I hope you are right as I hold but the trend is still down, todays close was a new weekly closing low in this downtrend, this will take a long time to reverse. Some thought the last auction would produce a bounce, I did and I added to my holding. I reversed that holding and I am tend to agree with Lies&DamLies targets of between 1.8 and 2.20. I think we might spend 6 months in that zone before a change in direction occurs. The CPI in the US might come in as expected and produce a bounce but the medium term will see elevated inflation causing central banks to accelerate there tightening.
I am not downramping PLS as I hold. Just stating it as I see it. I also see that China is continuing lockdowns. That is not going to be good. I see a large number of stock breaking major supports, they may reverse in the short term but this will be temporary if the macro picture deteriorates more.
PLS chart, page-6635
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Last
$3.07 |
Change
-0.190(5.83%) |
Mkt cap ! $9.239B | |||
| Open | High | Low | Value | Volume |
| $3.19 | $3.20 | $3.07 | $96.53M | 30.85M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 41 | 815921 | $3.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.08 | 309816 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |