I think the valuation was so high because investors were forward looking and thought Trajan was going to be a fast-growing company. You can see many growth companies with very high PE ratios for this reason. The guidance they just released was a reality check on their growth and obviously disappointed the market.
If you care about Technical Analysis the company is looking oversold, so do some research into it.
TRJ - Charta and Price Action, page-102
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Last
$1.24 |
Change
-0.020(1.59%) |
Mkt cap ! $188.8M | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.27 | $1.21 | $431.3K | 340.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4500 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 1250 | 1 |
View Market Depth
| Last trade - 15.33pm 03/10/2024 (20 minute delay) ? |
| TRJ (ASX) Chart |