Good question MMP
whats your ST view - lets make it simple
Against
1) STO fundamentals - not great
2) hard rally up in STO and oil
3) management unclear
4) strategy unclear
5) wht priority - investment grade status ? reserves? exploration? board ego ?
6) rally driven by shorters leaving ?
7) supply and demand still out of whack - by alot
For
1) ???
2) ???
3) oil rally continues
4) market believes OPEC will fix everything thru a prod'n freeze
Ok, looks like downside risks outweigh upside risks (in the ST).
So whats your move?
Want to see buying interest over $4 to be convinced of a leg upward - give it a week -- likely SP to drift until the magic opec meeting. WOW that tells us a lot MMP.
Yeap thats my dilemna - starting to look like a very large gamble. 50:1 shot with downside outweighing upside. OK if close over 4.10 this week then hold with a tighter stop. AT 3.60 still up 30+% - take your place at the table MMP. No double down tho & keep an eye on economic news/announcements.
crude 40; STO $4 but now where....
Add STO (ASX) to my watchlist
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Last
$7.50 |
Change
0.020(0.27%) |
Mkt cap ! $24.29B | |||
| Open | High | Low | Value | Volume |
| $7.52 | $7.54 | $7.50 | $1.685M | 224.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 6310 | $7.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.51 | 11853 | 22 |
View Market Depth
| Last trade - 10.14am 07/05/2024 (20 minute delay) ? |
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Last
$7.47 |
Change
0.020 ( 0.14 %) |
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| Open | High | Low | Volume | ||
| $7.52 | $7.53 | $7.47 | 68322 | ||
| Last updated 10.31am 07/05/2024 ? | |||||
| STO (ASX) Chart |