Hedge funds are absolute returners and are similar to roller coasters- they love going with the trends, sentiments, momentum and themes. They have hammered the stock price down- now they ready to close down their positions and swing the other way. Smart money would be shorting at high fives- shorting now is stupid, considering that investors are holding long and hedge funds will be closing out their positions and/or will be riding momentum upwards. Expect support to build around 3.50 and then push on to $4 levels in the next couple of months.
commsec price target $5.40, page-8
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Last
$18.60 |
Change
0.200(1.09%) |
Mkt cap ! $57.26B | |||
| Open | High | Low | Value | Volume |
| $18.40 | $18.68 | $18.34 | $157.0M | 8.476M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10105 | $18.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.60 | 17942 | 8 |
View Market Depth
| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |