Some sort of retrace has been overdue despite the fundamentals. I guess yesterday was a good day to anticipate it, with all the froth after the announcement and the old Adage of sometimes it's better to travel than to arrive. Timing is interesting though for the profit taking. Is it insiders, now able to sell following the result, or is it traders? If it's the latter, and given the runup we saw that was partly attributed to European buying, then a one day dump from overnight overseas traders would explain it, and we should expect stability tomorrow.
I decided to buy some more at 74 cents for an account that actually took some profits at 65c to meet commitments it now doesn't have. Time will tell if that was wise or we complete a full Fibonacci retrace to under 60c.
Fortunately this is not just a trading stock, its fundamentals are improving with each passing month, and doing some time and work at 85c seems more appropriate than at 60c.
Do its a buy or hold in my book.
Some sort of retrace has been overdue despite the fundamentals....
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Last
$1.33 |
Change
-0.070(5.02%) |
Mkt cap ! $1.172B | |||
| Open | High | Low | Value | Volume |
| $1.39 | $1.40 | $1.32 | $9.803M | 7.261M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 84002 | $1.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.33 | 44020 | 13 |
View Market Depth
| Last trade - 15.12pm 04/10/2024 (20 minute delay) ? |
| DRO (ASX) Chart |