I don't know if the price will be up or down next week or next month. The next move for S32 could just as easily be $3.50 as $4.50. I've looked at our 5 year chart and the historical charts for aluminium, copper etc. The commodities we sell are a long way from the highs of six months ago but in a market down turn could easily drop another 20%. Commodity price and our share price is currently well above previous lows in 2008, 2016, 2020, etc. I really have no clue. I'm not a technical trader.
One can go crazy trying to anticipate or predict prices. It's like that with oil. One week prices are up because of the Saudis threatening to cut production, bans on Russian oil, Covid zero ending in China, cold weather in Europe etc. The next week prices are down on fears of recession, oversupply fears, rising inventory, warmer weather in Europe. It's ridiculous!
Some times I can strike it lucky and buy at exactly the right time but I'm really not smart enough to profit from short term price movements.
What I can get right is the overall thematic and simply holding, and buying more on weakness. I'm willing and able to double my S32 holding if we get below $3.50 and do the same again below $3.00. With the expected shortages in a couple of years' time ahead of us, a sell-off on recession fears and a $2.90-odd price would excite me greatly. The daily current movements in share price we're experiencing don't interest me much. They just give the likes of Mot.ley Foo.l something to write about each day!
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I don't know if the price will be up or down next week or next...
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Last
$3.70 |
Change
0.170(4.82%) |
Mkt cap ! $16.75B |
Open | High | Low | Value | Volume |
$3.65 | $3.72 | $3.61 | $102.3M | 27.84M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 216566 | $3.69 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.71 | 7952 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 18982 | 3.680 |
3 | 41666 | 3.670 |
3 | 25811 | 3.660 |
3 | 22347 | 3.650 |
2 | 19277 | 3.640 |
Price($) | Vol. | No. |
---|---|---|
3.710 | 5000 | 1 |
3.720 | 16323 | 3 |
3.730 | 27820 | 7 |
3.740 | 18982 | 1 |
3.750 | 66955 | 12 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
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S32 (ASX) Chart |