Todays price action was terrific... STO has to continue its upwards movement from here as if it corrects, it might close the gap left behind. Personally, I think this takeover offer was a bit of a joke. Not sure about how strict is the takeover bid process, but if this group was really serious, they would do their analysis and make a proper offer, but that's what I think, what the market will make of it is a different story.
As I posted previously, usualy high volumes preludes the turns in the market. Today's volume was high but not as high as of the $4 bottom. Certainly, loads of shares changed hands today, like it did @$4. I'm guessing who took positions and who left this stock. Tomorrow will tell if it was distribution or accumulation... Chart below.
Where to from here???
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 (20min delay)
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Last
$7.30 |
Change
0.150(2.10%) |
Mkt cap ! $23.70B | |||
| Open | High | Low | Value | Volume |
| $7.23 | $7.33 | $7.19 | $92.93M | 12.78M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8869 | $7.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.30 | 47838 | 2 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| STO (ASX) Chart |