I really hope you’re right but I don’t think you are. Any dip (even into high 8s) will be met with strong buying. And the big volume days we’ve had recently saw the majority of buy occurring above mid 8s so any churn into 7s would be at a loss for a massive amount of stock.
I think the resistance at 10-12c are these aforementioned buyers looking for an exit and I think they’re smart to park there. We’ve seen some deep pockets pick up 5m parcels and they were happy to pay 10+. Our closes are edging higher and the diff from open to 10c is getting narrower so desperate bids in the millions are now forced to pay more than 10c.
All IMO.
CLA chart, page-59
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 (20min delay)
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Last
1.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $26.49M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.1¢ | $55.64K | 4.984M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 15802409 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 993636 | 2 |
View Market Depth
| Last trade - 16.10pm 29/04/2024 (20 minute delay) ? |
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Last
1.1¢ |
Change
0.000 ( 8.33 %) |
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| Open | High | Low | Volume | ||
| 1.1¢ | 1.1¢ | 1.1¢ | 1743328 | ||
| Last updated 10.56am 29/04/2024 ? | |||||
| CLA (ASX) Chart |