After a worrying spiral down to $1.76 I'm encouraged when looking at this summary below of the last fortnight.
They say the market generally moves like an escalator upwards but is prone to shift into elevator mode and move sharply downwards in response to 'shocks'. GQG has certainly experienced days and weeks of elevator mode lately. Hopefully the last of elevator mode is circled in red below - that seemed irrational selling at the time but it's only now with subsequent trading you can begin to argue that.
Circled in blue is the high volume day that appears to mark the turnaround and circled in green looks like a recognition that the selling was overdone as the buyers move back in (and we move back into escalator mode) These volumes in the past week are more typical of historical volumes too.
You never know what's round the corner and the next FUM update could upset things again.....however I'm momentarily encouraged by the turnaround in the past week.
GQG Price at posting:
$1.97 Sentiment: Hold Disclosure: Held
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