People seem to be wondering why there is a down day
Negative sediment on the US markets post last nights close (Meta and Spotify) won't be helpful however the price had reached resistance at the upper level of the downtrend channel (1st chart), as well as overhead resistance on a long term basis (2nd chart). You would also know that shorts are also at the highest level ever and seem to be on an increasing trend (3rd chart)
With regard to the 1st chart there was an upward reaction by retail investors only to the announcement but normal transmission has resumed in the downward channel with those recent buyers now trapped under water which will increase downward pressure.
When will you know the shares are cheap? - when directors who currently don't own shares start buying - not by someone continually posting over the last 6 months on a daily basis "these shares are cheap time to top up"
PNV - Chart, page-12319
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Last
$2.58 |
Change
0.020(0.78%) |
Mkt cap ! $1.780B | |||
| Open | High | Low | Value | Volume |
| $2.61 | $2.63 | $2.56 | $2.465M | 952.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 10700 | $2.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.58 | 24502 | 5 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| PNV (ASX) Chart |