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
26.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $101.9M |
Open | High | Low | Value | Volume |
26.5¢ | 26.5¢ | 25.5¢ | $15.45K | 59.23K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20133 | 26.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.0¢ | 62274 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20133 | 0.260 |
3 | 39412 | 0.255 |
3 | 345103 | 0.250 |
1 | 1595 | 0.235 |
1 | 3500 | 0.225 |
Price($) | Vol. | No. |
---|---|---|
0.270 | 62274 | 1 |
0.310 | 2921 | 1 |
0.320 | 50000 | 1 |
0.360 | 19200 | 2 |
0.365 | 700 | 1 |
Last trade - 15.59pm 26/07/2024 (20 minute delay) ? |
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HFR (ASX) Chart |