A positive sounding article written after hours in The Weekend Financial Review about MYR IMO could give the stock further legs to push north as more people read into the news and place Buy Orders on Monday morning.
I have found the share price and its movement quite similar to the trend that ZIP & SYR have been putting out recently. I have also noticed a pattern of these stocks at 50c or above trending and hitting nearly $1 or higher
SYR nearly did it, EML pretty much did it WC8 etc etc can MYR make its way as one of those stocks?
In regards to the actual Trading Update, a stock is defined as an EARNINGS WINNER by the trading world based on a stocks REACTION TO THE NEWS!!! Bad numbers can send prices higher. If that happens the market has deemed it as an earnings winner even though numbers may be horrendous. Shorts etc all have a part to play. This will be further highlighted if and when Weekend Financial Review do drop a MYR article out and further illustrate how it has beaten expectations, hence the market reaction to bad numbers. Peoples expectations seems far worse than the numbers reported.
My Sentiment & Positions a BUY/HELD & that means I hold a position. Please refer to the charting thread and feel free to add any charts you guys like in there also for more of the technical info GLTAHz! https://hotcopper.com.au/threads/myr-charting-thread.7571557/
MYR Price at posting:
74.5¢ Sentiment: Buy Disclosure: Held
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https://hotcopper.com.au/threads/myr-charting-thread.7571557/
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