Several Brokers yesterday had sells on 29M, and the market expects the company will need to do a capital raising, so the shorters
are having a party.
Production numbers looked ordinary so unfortunately the market is crushing the share price.
I don't know where the floor is on this stock, and when a stock is on freefall its best to stay out and on the sidelines.
There will definately be a bounce, but caution on catching falling knives, its a destructive way of losing capital quickly.
I think 29M will be a buy at some stage, but until they raise money, and quickly, the shorters at this low sentiment will drive the price lower.
Caution is the best policy, I lost thousands years ago on a stock called Atlas Iron - AGO was a darling at $4 and crashed to 4 cents.....Unfortunately
the market is too bearish at moment on 29M
Good luck to all, Brokers are seeking a capital raising so I will wait until that occurs before dipping into 29M, just my opinion.
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Last
40.0¢ |
Change
0.030(8.11%) |
Mkt cap ! $277.2M |
Open | High | Low | Value | Volume |
37.5¢ | 40.8¢ | 37.0¢ | $826.6K | 2.143M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 110602 | 40.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
40.5¢ | 50070 | 20 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 111033 | 0.400 |
16 | 68111 | 0.395 |
8 | 83262 | 0.390 |
4 | 45631 | 0.385 |
4 | 114300 | 0.380 |
Price($) | Vol. | No. |
---|---|---|
0.405 | 46487 | 17 |
0.410 | 87601 | 9 |
0.415 | 80032 | 8 |
0.420 | 95567 | 6 |
0.430 | 39632 | 5 |
Last trade - 15.21pm 31/07/2024 (20 minute delay) ? |
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