abdm, your scepticism is no doubt based on the harsh reality of past experiences. I don't for a minute believe that some new "investors" will not take quick profits. As you point out a quick $500k profit is tempting, especially if the rest of your portfolio is heading south. And yes the timing of the announcement is curious...
Still there will be some new investors who have bought the story for the medium/long term, and some who missed out and want to be in; SCE also have an sp target of $0.75 so let's throw their clients into the mix.
What is certain is that the next few days will establish a new base to move forward from. I remain optimistic that will be north of 28c.
Chawkey
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It is not the destination we reach that is most rewarding. It is the journey along the way.
selling on a bullish announcement, page-16
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Last
29.5¢ |
Change
-0.040(11.9%) |
Mkt cap ! $428.5M | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 33.0¢ | 28.0¢ | $7.278M | 23.75M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 53192 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.5¢ | 41048 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| IMM (ASX) Chart |