Several Brokers yesterday had sells on 29M, and the market expects the company will need to do a capital raising, so the shorters
are having a party.
Production numbers looked ordinary so unfortunately the market is crushing the share price.
I don't know where the floor is on this stock, and when a stock is on freefall its best to stay out and on the sidelines.
There will definately be a bounce, but caution on catching falling knives, its a destructive way of losing capital quickly.
I think 29M will be a buy at some stage, but until they raise money, and quickly, the shorters at this low sentiment will drive the price lower.
Caution is the best policy, I lost thousands years ago on a stock called Atlas Iron - AGO was a darling at $4 and crashed to 4 cents.....Unfortunately
the market is too bearish at moment on 29M
Good luck to all, Brokers are seeking a capital raising so I will wait until that occurs before dipping into 29M, just my opinion.
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Last
46.5¢ |
Change
0.025(5.68%) |
Mkt cap ! $326.2M |
Open | High | Low | Value | Volume |
44.5¢ | 46.5¢ | 44.5¢ | $924.3K | 2.016M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 50868 | 46.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
46.5¢ | 44155 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 50868 | 0.460 |
6 | 271754 | 0.455 |
6 | 176604 | 0.450 |
3 | 65449 | 0.445 |
11 | 54493 | 0.440 |
Price($) | Vol. | No. |
---|---|---|
0.465 | 20000 | 1 |
0.470 | 7000 | 1 |
0.475 | 239747 | 3 |
0.480 | 149173 | 3 |
0.485 | 143698 | 2 |
Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
46.0¢ |
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Change
0.025 ( 4.19 %) |
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Open | High | Low | Volume | ||
45.0¢ | 46.5¢ | 45.0¢ | 569772 | ||
Last updated 15.59pm 10/05/2024 ? |
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29M (ASX) Chart |