WOA

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1.1¢ wide open agriculture ltd

WOA - Charting, page-108

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HeyLine

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07/07/21

16:56

Post #: 54349155
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Originally posted by ilikethestock: ↑

Hi, good question. Breakaway gaps in my experience are unlikely to be filled if the gap was caused by a material change to the fundementals. Which in this situation is the case. If you recall the announcement on the 27th of May stating the company was moving to consumer development; this by many definitions is a material change to the fundementals of the company- ie derisking its operations a lot.

It the same as saying for example, a company trades at $1 per share and sells 'x' number of product. They make an announcement that they have discovered new operations methodology they can now produce double or '2x' number of product at the same cost. The share price gaps up. Gap here unlikely to be filled as the fundemental value of the company has changed as they can now support the higher SP as theyre likely making double the revenue etc.

Gaps which are created without and news tend to be filled.

But as a caveat... do remember markets don't always follow these rules. These TA rules all have a % chance of playing out, hence helping us align our capital with the amount of risk we forsee. This @Marek78 is the point of Technical Analysis. I worked at an investment bank for a majority of my career- and I can tell you TA has a role to play in decision making when looking at invesments- especially those with a high number of market participants / transactions.

Hope this helped bud.

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Hey Likethe, Do you reckon that gaps gonna get closed? Just questioning whether to buy more now or wait. Could pick some up for bit lower. Gobble gobble

WOA Price at posting: 80.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.1¢		Change 0.000(0.00%)		Mkt cap ! $5.870M

Open	High	Low	Value	Volume
1.2¢	1.2¢	1.1¢	$782	65.44K

Buyers (Bids)

No.	Vol.	Price($)
10	1154744	1.1¢

Sellers (Offers)

Price($)	Vol.	No.
1.3¢	415000	2

View Market Depth

No.	Vol.	Price($)
10	1154744	0.011
8	1288999	0.010
2	5615000	0.009
1	120000	0.008
1	200000	0.007

Price($)	Vol.	No.
0.013	415000	2
0.014	100000	1
0.015	190436	3
0.016	562500	2
0.017	218000	1

Last trade - 14.59pm 13/09/2024 (20 minute delay)

WOA (ASX) Chart

WOA - Charting, page-108

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WOA - Charting, page-108

Top Stories

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

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Utah authorities sign off on Anson's lithium extraction plans at Green River

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Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News