There was a stalled breakout before the presso was released, suggesting that TA traders were pushing the pennant break in what is a self fulfilling prophecy.
I would not be surprised if AZK timed the release to coincide with the pennant apex. They could have posted it earlier or held off, but somehow chose today, it wasn't marked price sensitive so there was no need to rush. I think a savvy pr team noted the chart action and chose today for the release.
A lesson in charting, page-5
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Last
23.5¢ |
Change
-0.010(4.08%) |
Mkt cap ! $463.5M | |||
| Open | High | Low | Value | Volume |
| 24.0¢ | 24.5¢ | 23.5¢ | $635.7K | 2.666M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 719235 | 23.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.5¢ | 673103 | 22 |
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| Last trade - 16.10pm 05/11/2024 (20 minute delay) ? |
| BRN (ASX) Chart |