I believe the selling to be more technical than fundamental. All I could see in the report was impact of bad weather - which was minimal in the scheme of things.
Technically stock had a recent shooting star at $3.20. Tried again and failed at $3.10, then completed a head and shoulders and broke the 3 month upward trend line on the daily charts at $2.96. My guess is there were a heap profit of stops triggered which exacerbated move downwards. There wasn't huge volume with the move down.
I agree IMD is a fantastic company.
Once the dust settles and it finds a new base, i'll be loading up
interim result 2012, page-17
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Last
$2.56 |
Change
0.050(1.99%) |
Mkt cap ! $1.310B | |||
| Open | High | Low | Value | Volume |
| $2.53 | $2.58 | $2.51 | $3.116M | 1.227M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 3208 | $2.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.56 | 3872 | 20 |
View Market Depth
| Last trade - 13.36pm 21/10/2024 (20 minute delay) ? |
| IMD (ASX) Chart |