Unfortunately, the Appen "No friends" group exerts full control, and though various valuation metrics appear promising, once the short-selling algorithmic bots gain momentum, valuations become irrelevant. These are the risks associated with permitting short-selling. Currently, the only positive aspect is the low trading volume, and no institutions with over 5% ownership have reported selling, except for stocks lent for shorting. We can anticipate some form of retracement from the recent downward move, possibly within Fibonacci levels of 38% to 62%, but where it will ultimately stabilize remains uncertain. As I mentioned a couple of weeks ago, from a time perspective, we are nearing a critical point. The velocity and acceleration of the decline are convincing indicators, as we approach a nearly 50% decrease since the announcement, which occurred over just 18 trading days. The absence of any significant rebound has been unforgiving. Despite my reservations, I added to my position yesterday and am endeavoring to exercise patience.
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Last
$1.40 |
Change
0.080(6.06%) |
Mkt cap ! $312.2M |
Open | High | Low | Value | Volume |
$1.32 | $1.46 | $1.26 | $25.35M | 18.36M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 69460 | $1.40 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.41 | 45000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 56124 | 1.400 |
2 | 20716 | 1.395 |
3 | 32000 | 1.390 |
1 | 60000 | 1.385 |
9 | 30309 | 1.380 |
Price($) | Vol. | No. |
---|---|---|
1.410 | 45000 | 1 |
1.415 | 20862 | 3 |
1.425 | 24035 | 3 |
1.430 | 11500 | 3 |
1.435 | 29015 | 2 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
APX (ASX) Chart |
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David DeTata, Managing Director
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