I don’t believe there’s been a lack of interest. Since the beginning of the year, the market has absorbed ~$23.6 million worth of EMV at a VWAP of $2.15, with an average closing price of $2.11.
Looking at EMV on a macro scale, the overhang from the run-up to $4.20, followed by the subsequent draw-down to $1.14, has naturally required more time to clear those who were burned at the top.
Additionally, many who bought at the draw-down trough in July last year are now sitting on nearly 100% profit, with the 50% CGT discount applied. This contributes to resistance in the 2.25-2.30 range as profit-taking adds pressure to this level.
Please note, this data does not include Chi-X. If anyone knows a source for historical daily ASX data that includes Chi-X, I’d greatly appreciate if you could share it with me.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)