0119 GMT [Dow Jones] Technical analysts have spotted a potentially lucrative trading pattern for Australian retailer Myer (MYR.AU). "While Myer has not been our favourite in the sector, because of its down-trodden price, we can see a trading opportunity for those happy to deal with a little risk," says Michael **le, portfolio manager at Fairmont Equities in Sydney. He says recent moves up were characterized by "good volume and impulsiveness," while moves down came with lower volume, making a rise just under A$2.00 possible. While official data shows Myer remains one of the most heavily shorted stocks on the ASX, indicating a longer-term downtrend, **le sees enough upside for a trade in the short term. Myer last traded 0.3% lower at A$1.46 Wednesday morning. ([email protected])
Editor JSM
(END) Dow Jones Newswires
May 19, 2015 21:19 ET (01:19 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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Last
82.0¢ |
Change
0.005(0.61%) |
Mkt cap ! $682.0M |
Open | High | Low | Value | Volume |
81.0¢ | 82.0¢ | 79.0¢ | $1.545M | 1.915M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 722952 | 82.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
82.5¢ | 2440 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 722952 | 0.820 |
6 | 157221 | 0.790 |
1 | 8501 | 0.785 |
9 | 44226 | 0.780 |
2 | 6453 | 0.775 |
Price($) | Vol. | No. |
---|---|---|
0.825 | 2440 | 1 |
0.830 | 67294 | 5 |
0.835 | 10620 | 2 |
0.840 | 253977 | 5 |
0.845 | 55917 | 3 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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MYR (ASX) Chart |