Interestingly a doji appeared at the end of todays trading (candlestick daily). It would seem the shareprice has reached the limit of what bears are willing to sell at. Combined with a large matching buy volume we're seeing the limit at which bulls have decided this share is too cheap to miss a bargain. Although it will require a bullish confirmation tomorrow, I believe a reversal is imminent(doji today plus long lower shadow previous day indicates increased buying pressure. also very far below 8 day EMA)
I suspect that the share price movement may be motivated by politics within the company rather than a reaction to the recent drop in quaterly sales or the looming speculative drop in iron ore spot price. There is a strong possibility that the shares are being pushed down before the annual general meeting on the 8th. Unless there is terrible news at the meeting there should be a strong reversal after. I think its a good time to go bargain hunting.
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Last
38.0¢ |
Change
0.005(1.33%) |
Mkt cap ! $439.7M |
Open | High | Low | Value | Volume |
38.0¢ | 38.5¢ | 37.5¢ | $206.6K | 545.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 229811 | 37.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
38.0¢ | 61362 | 20 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
19 | 229811 | 0.375 |
14 | 186014 | 0.370 |
9 | 193734 | 0.365 |
11 | 183572 | 0.360 |
4 | 157037 | 0.355 |
Price($) | Vol. | No. |
---|---|---|
0.380 | 61362 | 20 |
0.385 | 235420 | 18 |
0.390 | 106800 | 11 |
0.395 | 105702 | 8 |
0.400 | 296151 | 20 |
Last trade - 11.40am 15/07/2024 (20 minute delay) ? |
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GRR (ASX) Chart |