Time for some more weekly thoughts:
UWL closed at all-time daily and weekly highs of $1.75 on Friday. The weekly chart shows the dramatic rise over the last week, ending up 31 per cent higher than last Monday's opening of $1.335:
Crucially, the gain came off increased volumes. This was the third consecutive week of volume growth, and the highest in 5 weeks:
Friday's daily turnover was $4.3 million - this was an all-time high, by at least a million dollars. Some stock trading textbooks say to be wary of buying at rising prices on low volumes, but Uniti has been rising on increased volumes.
Last week also presented the first ever opportunity for a ten-bagger, remembering the $0.17 all-time low during late February and early March.
UWL has experienced the 9th-biggest gain of ASX stocks over the last year, according to this table from Market Index:
Aside from price action, two broader things to keep an eye on are:
- The outcome of possible court proceedings that concerned an alleged breach of the Fair Work Act (involving a co-founder, Sasha Baranikov)
- NBNCo's release of a wholesale pricing review consultation paper to NBN retail service providers (noting that UWL is also an NBN reseller)
