A close below $11.20 in the coming sessions would be very bearish and open the door for much lower prices. It was a decent bounce off the day's low, but still more red to come, IMO. Wouldn't touch until it finds some form of base that the market seems to accept. It's still trading at annualised PE 44 which is not cheap under any definition and is priced for perfection. Sub 40, even 35 would provide more of a safety buffer.
Perhaps a saving grace is that BAL and A2M have been trading similarly recently and BAL seems to have support around $19, which from a valuation perspective would support A2M's current share price.
Drop in sp?, page-6
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Last
$7.18 |
Change
0.020(0.28%) |
Mkt cap ! $5.190B | |||
| Open | High | Low | Value | Volume |
| $7.18 | $7.23 | $7.13 | $12.81M | 1.785M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3865 | $7.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.20 | 7121 | 7 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
$7.18 |
Change
0.020 ( 0.20 %) |
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| Open | High | Low | Volume | ||
| $7.18 | $7.23 | $7.13 | 1306035 | ||
| Last updated 15.59pm 07/06/2024 ? | |||||
| A2M (ASX) Chart |