FBR 0.00% 5.3¢ fbr ltd

I haven't made SP predictions before (if I had they would have...

  1. 1,085 Posts.
    lightbulb Created with Sketch. 807
    I haven't made SP predictions before (if I had they would have been wrong anyway), but this time I feel is different.
    These are my own observations, as a LTH of FBR, but you better DYOR.

    ASX will close shortly. I don't know where we will end up, but I am hopeful as this afternoon has been relatively quiet, and the usual sell offs on Friday afternoons has not made the SP crash. The number of buyers is ramping up - quite a few from 4.5 c. There are a lot of diehards in the 2-3 c group - it seems they haven't been watching, and it is very unlikely their bids will ever succeed. Perhaps some big boys tried to push their way in, but as most shares are held by a few people, and most of the rest is with LTHs like me who suffered for years and are unlikely to give them away, that might explain why they failed to push the SP down as usually happens on Friday arvos.

    On my previous analogy with the roulette table, I see the space around the table getting crowded, more buyers piling in trying to find a vacant spot on the betting board to place their chips. Meanwhile the croupier has tossed the ball in, it is spinning fast, and I see him about to call "no more bets". Anyone who misses out has to come back next week, but the buy in price will be substantially higher (there - that is my prediction).

    Someone mentioned charts. We all know charts do not predict fundamental changes. What they really predict is mass (or crowd) behaviour. The tricky thing for a good chartist is to find the appropriate chart for the circumstances. There are many chart types - they do not all produce the same result.
    Is there a chart type suitable for the current state of FBR?:
    - no substantial change to fundamentals for months other than the uneventful transport of a truck
    - media in US is starting to be aware of FBR - the exposure is changing from a few hundred to hundreds of thousands\
    - SP has trebled in last few weeks. Day traders may have done very well, but liquidity is very low.
    - a big announcement is expected very soon which will change the fundamentals substantially.

    Which chart type can predict what people will do in these circumstances?
    There are more things I could say, but there are only a few minutes left before close. Buyers and sellers starting each other in the eye - what is going to happen?
    Good luck to you all.
    Monday will be interesting.
 
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Last
5.3¢
Change
0.000(0.00%)
Mkt cap ! $235.4M
Open High Low Value Volume
5.3¢ 5.6¢ 5.1¢ $922.1K 17.41M

Buyers (Bids)

No. Vol. Price($)
1 6423 5.2¢
 

Sellers (Offers)

Price($) Vol. No.
5.3¢ 613170 2
View Market Depth
Last trade - 16.10pm 12/07/2024 (20 minute delay) ?
FBR (ASX) Chart
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