I have a theory that traders are locking in their profits prior to the announcement.
They have had a good run on the anticipation of results, and betting on the anticipation of results is always going to be a safer play than actually waiting for the results, regardless of how likely they are to be good.
Chart below shows that today's pull back is still within the tight range we have been trading in for the past 2 weeks. The market is in a holding pattern, waiting to decide which way to break.... which will no doubt be determined by the quality of the announcements in the next 10 days.
Fortunately I think there is enough optimism out there about the announcements for investors to soak up the shares being offloaded by the profit takers. We may go down further, but not much further
I have a theory that traders are locking in their profits prior...
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Last
40.5¢ |
Change
0.005(1.25%) |
Mkt cap ! $588.3M | |||
| Open | High | Low | Value | Volume |
| 40.0¢ | 40.5¢ | 39.8¢ | $2.431M | 6.045M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6880 | 40.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.5¢ | 85353 | 3 |
View Market Depth
| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| IMM (ASX) Chart |