From a TA point of view, the daily trading range was narrow and the volume was small, indicating the cycle is nearing its end before resuming upwards.
Anyone who bought this shares around $5.50 and $5.70 (assuming if the price do come down to $5.50) should be quite safe about the entry price, as I don't see the price dipping further unless this happen:
1) Global market drop. 12 May 2006 witnessed the start of the correction after huge run for past 3 months. ASX dipped by around 300 points. I sense the same coming now and today is just the starting of the correction.
I'm still holding off at the mean time from buying, although I know that next few days we will witness a change in trend. Both the oscilator and MACD indicated this stock is way oversold.
The reason of holding back is that the global equity will be having a correction over next 2-3 weeks. China equity had a huge rise of over 50% for the past 3 months alone, so the risk is on the card.
cheers
JM
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Last
44.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $73.30M |
Open | High | Low | Value | Volume |
44.5¢ | 44.5¢ | 44.0¢ | $226.2K | 509.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 158238 | 44.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
45.0¢ | 257803 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 158238 | 0.445 |
8 | 959885 | 0.440 |
1 | 22800 | 0.435 |
3 | 8500 | 0.350 |
1 | 2500 | 0.200 |
Price($) | Vol. | No. |
---|---|---|
0.450 | 257803 | 9 |
0.460 | 100000 | 1 |
0.490 | 21811 | 2 |
0.500 | 2000 | 1 |
0.000 | 0 | 0 |
Last trade - 15.23pm 23/07/2024 (20 minute delay) ? |
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