My understanding is the SP has been drifting lower due to overall macro/Nasdaq and also sell down by one of the Directors.
I note today is the last day of such sell off, i.e. 15 business days from 9/09.
A drop of 46 to 38c is huge - given the doji (though slightly longer head), means that we should start to see some form of recovery from here, esp given RSI is possibly on the largest magnitude of ~23 which is a historic record of being "oversold". Love the divergence lines.
4 days of red - what do you think is the risk vs reward for a trade? I know where I'd place my bets.
Itchy hands today - bought 80k @ 39c at closing today. Tomorrow should be the last day we see below 40c bargain price. It should trade around 39c to 41c IMO for tomorrow, and slowly drift up next couple of days for the next catalyst, on caveat that Nasdaq don't tank (it is due for a major 15%+ plus correction IMO - it is already retracing by the way - Evergrande will be the catalyst in 3 weeks' time, right in October where major correction/crashes happen).
Correction overdue for Nasdaq and DJIA. I expect 15%+ adjustment from major events - covid and Evergrande (and other external factors).
Chart, page-12131
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Last
21.0¢ |
Change
-0.005(2.33%) |
Mkt cap ! $389.7M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 21.5¢ | 20.8¢ | $610.1K | 2.904M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 593140 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 560405 | 10 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| BRN (ASX) Chart |