FAR chart:
Golden cross has occurred on the daily - SMA 14 / 90
Importantly, this has occurred at resistance, and on a day when Cath is presenting at a conference to try and drum up solid investors. By all reasonable logic this should break resistance and have a strong run.
For most stocks, this would mark a buying point. With FAR the buyers always wait for the SP to be pushed to ridiculous lows - catching the falling knife basically.
If this behaviour and sentiment can change with FAR then we can expect a reasonable and sustained uptrend. If buyers continue to wait for short sellers to push down from resistance then the consolidation will continue.
IMO it's buy time and I'll be doing so today, but my measly parcel won't make much difference. Big buyers need to step up and do the heavy lifting from here.
FAR chart: Golden cross has occurred on the daily - SMA 14 / 90...
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Last
49.0¢ |
Change
-0.010(2.00%) |
Mkt cap ! $45.28M | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 52.0¢ | 48.5¢ | $101.9K | 200.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 48741 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.5¢ | 1786 | 1 |
View Market Depth
| Last trade - 15.59pm 04/10/2024 (20 minute delay) ? |
| FAR (ASX) Chart |