The way that volume was dealt with on market on Monday was nothing short of aggressive. Leads me to think it was either a forced seller / serious margin call or someone with an agenda.
Short interest hasn't increased.
With a serious debt package locked away, one final approval to be received and a relatively small equity gap to be solved for, the discount to NPV vs risk in the business has never been greater = serious target at current levels.
I've tipped out a few other positions to take advantage of the current price action and happy to keep batting down here if the opportunity persists.
Chart wise a close above 71c is key for short term price direction. RSI has printed an oversold reading, which historically proves to be a good buying opportunity. MACD jaws have widened as it has moved back through the 0 control line, which is a negative. Good demand on market coming in yesterday to absorb the residual supply. Today's market action will be telling.
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Last
30.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $119.6M |
Open | High | Low | Value | Volume |
30.5¢ | 31.0¢ | 30.0¢ | $48.27K | 158.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 25000 | 30.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
33.5¢ | 35032 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 0.300 |
2 | 54000 | 0.295 |
4 | 203000 | 0.290 |
1 | 700 | 0.285 |
2 | 154696 | 0.280 |
Price($) | Vol. | No. |
---|---|---|
0.335 | 35032 | 1 |
0.345 | 4857 | 1 |
0.350 | 2100 | 1 |
0.360 | 10000 | 1 |
0.370 | 20000 | 1 |
Last trade - 15.45pm 21/06/2024 (20 minute delay) ? |
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