TA - The signals from the volume as you have noted and the closing price comparative to high and low is suggesting a bullish reversal is on the way (although a weak signal). As I noted in my post yesterday the next level of support is likely to be $2.34 based on the hitting the138% on the Fibonacci retracement so todays close is in that region. My guess is tomorrow will see a close around this support level and maybe even Thursday with the results hopefully boosting it upwards after that. Fingers crossed!! If support is not held tomorrow then would expect a fall perhaps to around $2.16 - $2.18 before or after the results which is the next real support level based on the P&F charts I refer to.
On another note I received advice later today with a revised valuation setting fair value at $4.19 based on a DCF assessment by 2 analysts.
Lets hope this is the bottom and we can see a recovery commence. Still one of the strongest growth stocks on our market so patience is a virtue! If I had some spare cash now I would be thinking about a top up right now.
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Last
$2.22 |
Change
0.060(2.78%) |
Mkt cap ! $1.249B |
Open | High | Low | Value | Volume |
$2.14 | $2.25 | $2.11 | $7.490M | 3.419M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 379 | $2.22 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.23 | 5780 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 379 | 2.220 |
2 | 18631 | 2.210 |
2 | 18631 | 2.200 |
1 | 1469 | 2.190 |
2 | 1699 | 2.180 |
Price($) | Vol. | No. |
---|---|---|
2.230 | 5780 | 2 |
2.240 | 2801 | 1 |
2.250 | 65076 | 12 |
2.260 | 18509 | 2 |
2.270 | 5135 | 3 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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AX1 (ASX) Chart |