Maybe overbought.. but as said the trend is your friend so no point in trying to predict the turn until it's confirmed.
The heavy buying was hedge fund short squeeze (check the volume and pace of the reversal). This reversal is the second in two weeks, so for now the direction is favouring up.
Until we get another UBS report or down swing in the dow, then it is ready for another leg up. Consolidation of course will ensue in the mean time, so watch out for whipsaws.
at least 20 percent rally expected, page-17
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Last
$204.69 |
Change
0.880(0.43%) |
Mkt cap ! $78.38B | |||
| Open | High | Low | Value | Volume |
| $205.91 | $207.57 | $204.01 | $167.1M | 819.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $204.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $204.69 | 8739 | 4 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MQG (ASX) Chart |