The rate at which the price is dropping is slowing down. Reports from China are that expensive supply has started to shut down. I would expect the previous floor to be still intact and create a small upshoot again.
What happens next really comes down to December sales (which we should know in the next two weeks) and possible recessionary impacts if any. If the price does not start rising in the next two weeks, in order to cater for the order of cars to be produced and sold in the Nov-Dec, then it is probably going to flatline for some time. Jan-Feb is historically soft, so no major upshoot for a while.
Interesting times. I watch the data carefully and see what happens.
AKE Price at posting:
$12.65 Sentiment: Buy Disclosure: Held
