The way that volume was dealt with on market on Monday was nothing short of aggressive. Leads me to think it was either a forced seller / serious margin call or someone with an agenda.
Short interest hasn't increased.
With a serious debt package locked away, one final approval to be received and a relatively small equity gap to be solved for, the discount to NPV vs risk in the business has never been greater = serious target at current levels.
I've tipped out a few other positions to take advantage of the current price action and happy to keep batting down here if the opportunity persists.
Chart wise a close above 71c is key for short term price direction. RSI has printed an oversold reading, which historically proves to be a good buying opportunity. MACD jaws have widened as it has moved back through the 0 control line, which is a negative. Good demand on market coming in yesterday to absorb the residual supply. Today's market action will be telling.
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Last
29.0¢ |
Change
-0.005(1.69%) |
Mkt cap ! $122.4M |
Open | High | Low | Value | Volume |
29.5¢ | 30.0¢ | 29.0¢ | $70.49K | 237.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 292702 | 29.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
31.0¢ | 54034 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 292702 | 0.290 |
5 | 62307 | 0.285 |
4 | 110176 | 0.280 |
2 | 18636 | 0.275 |
2 | 26111 | 0.270 |
Price($) | Vol. | No. |
---|---|---|
0.310 | 54034 | 2 |
0.320 | 118105 | 2 |
0.330 | 130338 | 3 |
0.340 | 61240 | 2 |
0.350 | 121066 | 3 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
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HFR (ASX) Chart |