IF this is a bear market, then you can expect the All Ords to re-test the lows of Tuesday. A typical double-bottom from which then (and this is the key question), the market will begin a long-term rally (rest of the year at least) OR will go into ugly territory and 4,000 might be the next stop.
My point is, in this hype of 5%+ a day returns, be short, keep a good chunk of cash on hand to get bargains and have big brass ones to buy on days of -5%.
My humble advice only.
double bottom likely
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Last
$63.96 |
Change
0.550(0.87%) |
Mkt cap ! $12.34B | |||
| Open | High | Low | Value | Volume |
| $63.49 | $63.99 | $63.39 | $10.05M | 157.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 230 | $63.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $63.97 | 71 | 4 |
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| Last trade - 12.36pm 12/07/2024 (20 minute delay) ? |
| ASX (ASX) Chart |