Closing prices and especially right into the post-auction is very bearish, so this signals ST weakness. Big volume spike so I think the haircut will continue.
In hindsight the director selling post news + FY20 results were setting up for the bad news and today was the confirmation. Unfortunately as usually happens, sell-offs precede the bad news before a bounce. Based on this logic, the market was caught on the surprised and headed for the exits. I like to think the "daigou" issue was the reason but who knows when speculating in advance for a credible reason.
TA does signal some confluence for me but when the panic sets in I remain sidelined in any contemplation on buying the F'ing dip!
Chart Update, page-13239
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Last
$5.73 |
Change
-0.010(0.17%) |
Mkt cap ! $4.148B | |||
| Open | High | Low | Value | Volume |
| $5.74 | $5.78 | $5.70 | $10.10M | 1.760M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 8889 | $5.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.75 | 927 | 1 |
View Market Depth
| Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
| A2M (ASX) Chart |