I had the same contemplation with FMG when it crashed to the $14 low, I saw the base forming but the noise of China policy changes trying to target out chief export just fill my heads with all the doubts. Milk formula is a much less leverage product to their desperation I suspect unlike IO where it is a key ingredient in their economic development.
Price can't keep falling although this is not a rule of thumb if management has taken every steps to protect their operational control. Price of milk formula and demand is out of their control.
No harm having a look occasionally.
Chart Update, page-22436
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Last
$5.19 |
Change
-0.130(2.44%) |
Mkt cap ! $3.757B | |||
| Open | High | Low | Value | Volume |
| $5.26 | $5.29 | $5.19 | $21.70M | 4.165M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11002 | $5.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.23 | 19654 | 8 |
View Market Depth
| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| A2M (ASX) Chart |