Seems like a bit of a standoff happening at the moment, with the day traders all loaded, and ready to off load between 37-39c, but the big punters trying to see if any of the DTs have loaded too hard, therefore pick up some "cheaper" shares.
IMO, we will see some cat and mouse tactics throughout the next couple of hours. I would imagine that news will circulate about the announcement, which as it continues to do, will probably generate more interest throughout the afternoon. When we start seeing articles published about the announcement, which happened after 5/12, we should see some more punters come in and make a 2pm-4pm run.
If that can happen, and that log-jam between 36.5-39c can clear, there is no reason why we can't close in the low 40's. If everyone is too stubborn and won't budge on their beliefs, then expect a 36c close.
Just my opinion!
AGS Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
