Markets bounced back after the initial worry over the Corona virus hit markets hard yesterday.
The broad US S&P500 market (top chart below) was at the top of its channel beforehand so it looked like it was looking for any excuse for a correction. It corrected all the way to the bottom of its channel and is bouncing back up again so the uptrend continues. I'd prefer to see a shallower uptrend there but the market appears to be continuing in that channel for now.
Tesla (2nd chart) should see less impact on its sales from the virus as compared to the broader market and it has already bounced back to just below its recent record high closing prices.
A4N will have no impact to its activities from the Corona virus but was also probably ready for a correction. We had an 11% correction in 2 days from the recent closing high of 26c or 13% from the recent peak price of 26.5. The price closed off its low yesterday, the RSI has come off from an overbought level and markets have recovered from the sharp one day drop. News could drop any day so I think this correction will be much shorter than recent corrections. Corrections in down trends are selling opportunities. Corrections in up trends are always buying opportunities.
I''ll be surprised if we don't follow Tesla's lead and close at 24.5-25c today or tomorrow - back up near recent highs.
- Forums
- ASX - By Stock
- Ann: Company Activities Update
Markets bounced back after the initial worry over the Corona...
Featured News
Add A4N (ASX) to my watchlist
|
|||||
Last
82.0¢ |
Change
-0.015(1.80%) |
Mkt cap ! $930.3M |
Open | High | Low | Value | Volume |
85.0¢ | 85.0¢ | 81.5¢ | $462.1K | 561.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 16131 | 82.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
82.5¢ | 40760 | 29 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 16277 | 0.820 |
11 | 37170 | 0.815 |
9 | 45070 | 0.810 |
7 | 32186 | 0.805 |
5 | 13434 | 0.800 |
Price($) | Vol. | No. |
---|---|---|
0.825 | 45007 | 29 |
0.830 | 26498 | 11 |
0.835 | 22141 | 10 |
0.840 | 21610 | 5 |
0.845 | 25204 | 5 |
Last trade - 15.39pm 15/08/2024 (20 minute delay) ? |
Featured News
A4N (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online