Happy winter solstice to you all.
I have a more positive outlook on the chart. I think after the big roller coaster ride the market is just taking a breather and forming a higher confirmation low before taking off. From a technical perspective I have seen this many times. Confidence would have been shaken in many investors as we bunji jumped down into the 14's. It's normal after a huge recovery like we had two days ago for the market to stop and see what happens next. That plus we would have had a few day traders taking profits yesterday. Most of yesterday's fall and volume was in the first hour and after that volume was low and price was pretty stable. I would not be surprised to see the SP start heading up again today although we will need to break through Wednesday's high for confirmation.
From a fundamental point of view, we know that metallurgy was what the market was waiting for. The MOM guys mentioned this way back when we were 5 bucks and that Bell Potter mentioned this as well in yesterday's upgrade. This from Bell Potter:
"The metallurgical results were the main hurdle for WA1 in our opinion, with the upcoming Maiden Resource Estimate a close second"
We might tend to feel a bit negative about the power of algo trading but I believe the force is strong with the mets results. Add to that some anticipation will also now be growing with the imminent MRE which, as Bell Potter puts it, is a close second to mets. In my opinion if dark forces try to push this down any further they will be vapoized.
- Forums
- ASX - By Stock
- WA1
- wa1 Chart
wa1 Chart, page-2429
-
- There are more pages in this discussion • 82 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add WA1 (ASX) to my watchlist
|
|||||
Last
$16.40 |
Change
0.060(0.37%) |
Mkt cap ! $982.6M |
Open | High | Low | Value | Volume |
$16.22 | $16.46 | $16.00 | $4.420M | 273.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 493 | $16.37 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.40 | 1064 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 240 | 16.290 |
7 | 420 | 16.280 |
3 | 182 | 16.270 |
3 | 241 | 16.260 |
3 | 236 | 16.250 |
Price($) | Vol. | No. |
---|---|---|
16.330 | 196 | 6 |
16.340 | 49 | 2 |
16.350 | 142 | 4 |
16.360 | 173 | 2 |
16.370 | 1449 | 3 |
Last trade - 14.42pm 17/07/2024 (20 minute delay) ? |
Featured News
WA1 (ASX) Chart |