This is just another cycle. Price goes to excesses and corrects down over and over.
What CXO is doing is exactly what pro share traders do. They put a stop loss price in place - conserve capital. Its smart.
Those explorers, those drilling, those looking for an FID who do not back off soon could be in strife. At the very least some backing off will create future supply delays which will fuel the rebound.
Those with debt eg LTR would be looking closely at their situation.
CXO will survive due to its quick actions.
Ann: Strategic Review Update, page-136
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Last
9.4¢ |
Change
-0.001(1.05%) |
Mkt cap ! $200.8M | |||
| Open | High | Low | Value | Volume |
| 9.5¢ | 10.0¢ | 9.4¢ | $2.442M | 25.38M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 1050350 | 9.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.5¢ | 225000 | 2 |
View Market Depth
| Last trade - 16.10pm 13/06/2024 (20 minute delay) ? |
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Last
9.5¢ |
Change
-0.001 ( 0.94 %) |
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| Open | High | Low | Volume | ||
| 9.5¢ | 9.9¢ | 9.4¢ | 10290423 | ||
| Last updated 15.59pm 13/06/2024 ? | |||||
| CXO (ASX) Chart |