PDN is on a downtrend regardless of the move upwards in the last couple of days. The volume is the activity of smart money. If one looks at the daily charts, one can observe that they came into to buy from $1.10 -$1.20.
Since then, they have been distributing their holdings to the herd. This is evident by the supply/demand paradigm. That is, the volumes are decreasing as the price increases. This clearly shows a lack of demand and that supply is evident. The smart money are not willing to buy at $1.60...as such I foresee a move back down to $1.15.
Above is an opinion.
daily report, page-10
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Last
$12.65 |
Change
-0.210(1.63%) |
Mkt cap ! $3.782B | |||
| Open | High | Low | Value | Volume |
| $12.60 | $12.80 | $12.56 | $23.49M | 1.849M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4500 | $12.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.66 | 3571 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |