If the progress of the chart had been produced as a result of market conditions and technicals then you would have a valid reason for your projection.
It wasn't so you don't.
The chart reflects the past and the future is not a continuation of the past. it is not "business as usual".
Fundamentals show a huge improvement in the prospects of the company. The price has not caught up with the potential. Most long term holders know this and it is that factor that is keeping volunme down. There has been some increased volume in recent days following the AWE bid for ADI as traders entered the market for short term gains. Their profit taking will be a strain on the SP but only in a minor way. A lot of the volume has been opportunstic share swaps between ADI, AUT and EKA as the relative values have altered. Those trades will mainly be accumulative ones between the true believers and will not be placed on the market in a manner to drop the SP as you could expect from technical traders.
To sum up; In my opinion the fundamentals will outdo the technicals for the pricing of AUT shares.
technically overcooked, page-49
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Last
$1.21 |
Change
-0.020(1.63%) |
Mkt cap ! $679.7M | |||
| Open | High | Low | Value | Volume |
| $1.19 | $1.23 | $1.18 | $1.537M | 1.280M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 27905 | $1.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.21 | 8491 | 2 |
View Market Depth
| Last trade - 14.30pm 11/11/2024 (20 minute delay) ? |
| FFM (ASX) Chart |