Those claiming this is a sell the news stock, need to understand context.
Pull up a daily chart and you will see that from early aug to late sep 2023 the stock was in a distribution phase, characterised by large volume and wide spreads (generally speaking). Consequently any announcements during that period would have been sold in to. The stock is likely currently in accumulation phase, charaterised by low volume and narrow spreads (generally speaking), arguably in preparation for a new mark-up phase based on the potential of the upcoming exploration.
AW1 General Chat, page-2652
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Last
11.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $59.53M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 12.0¢ | 11.0¢ | $301.5K | 2.590M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 107787 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 329499 | 4 |
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| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| AW1 (ASX) Chart |