The thing that strikes me is that all the bulls of the stock are focussed on its individual merits and not the wider macro economic environment.
A number of sovereign states are on the verge of bankruptcy and could crash worldwide markets in which nothing survives.
At the end of the day the stock market is a voting machine not a weighing machine and many investors will face forced liquidation of their portfolios.
Having said that the Nasdaq has declined for 33 Fibonacci weeks with a potential turn point at 34 weeks ( +/- 1 week) and 38.3 retracement at 10627-10730 where 50 Month SMA and 55 Month EMA also lie.
i believe markets will find support there for a technical rally albeit only an interim bottom.
New TA/Charting, page-8887
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Last
67.0¢ |
Change
-0.045(6.29%) |
Mkt cap ! $1.624B | |||
| Open | High | Low | Value | Volume |
| 70.0¢ | 71.0¢ | 67.0¢ | $10.52M | 15.42M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 385809 | 66.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 67.5¢ | 116000 | 4 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| LTR (ASX) Chart |