Here's what I think is happening...
No one much is selling today despite the market being well down. (I think that argues again the doomsayer non holders' wishful thinking scenario of gaps and 10c and such.... No offense intended.)
I'm not sure many holders really believe it is going lower.
PRR has previously found support and resistance in the mid teens. Indeed the day it hit the 14c low (Aug 9) it bounced to 16.5c as buyers came in.
If you ask me the price is in a sideways range from then with resistance at 21.5c and support around 15.5c. There's plenty of headroom for moves to the upside on news or a market rally, and not much to suggest it will go much lower.
IMHO only.
Cheers
15.5c to 21.5c sideways range?
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Last
29.5¢ |
Change
-0.040(11.9%) |
Mkt cap ! $428.5M | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 33.0¢ | 28.0¢ | $7.278M | 23.75M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 53192 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.5¢ | 41048 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| IMM (ASX) Chart |