Most times bear rally = short covering and not genuine buying. The week of 8th March is a sure sign that price struggle past the recent resistance at the time and formed a reversal bar. The rotation of price hitting that weekly resistance was suggesting to me that there was a very likelihood of a triple bottom formation with the DB in place. Some would argue that triple bottom potential is a good sign price should hold but when it doesn't, you see a rush of bull stops gets taken out and bears on the sideline jumps in.
I know Crude is not the real trigger since STO is more a gas play but the correlation of crude to gas is very positive.
stand by for CR, EPS downgrade, writedowns, page-88
-
- There are more pages in this discussion • 13 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add STO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$7.63 |
Change
0.130(1.73%) |
Mkt cap ! $24.78B | |||
| Open | High | Low | Value | Volume |
| $7.60 | $7.66 | $7.57 | $57.67M | 7.563M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 29182 | $7.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.64 | 52397 | 4 |
View Market Depth
| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| STO (ASX) Chart |