I had the same contemplation with FMG when it crashed to the $14 low, I saw the base forming but the noise of China policy changes trying to target out chief export just fill my heads with all the doubts. Milk formula is a much less leverage product to their desperation I suspect unlike IO where it is a key ingredient in their economic development.
Price can't keep falling although this is not a rule of thumb if management has taken every steps to protect their operational control. Price of milk formula and demand is out of their control.
No harm having a look occasionally.
Chart Update, page-22436
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Last
$5.65 |
Change
-0.060(1.05%) |
Mkt cap ! $4.084B | |||
| Open | High | Low | Value | Volume |
| $5.69 | $5.72 | $5.62 | $8.206M | 1.451M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 59 | $5.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.67 | 3039 | 1 |
View Market Depth
| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| A2M (ASX) Chart |