Unless a company is actually going bust, the downtrend has to cease at some point. The stockmarket and the company are two entirely separate entities. With no change to the company itself, investors could drive the SP down to 2 cents OR they could drive it back up to $1.00 (all depending on how they feel).
To be honest, I don't really know what the "shorters" are up to but the SP is so low they're playing a risky game. The expectations of CAJ are so negative right now that even a modest announcement / quarterly update will cause the SP to surge. For anyone betting on a downtrend it will be like trying to hold a balloon underwater.
NB. I'm not predicting a fantastic FY. Just saying the market seems to be expecting disasterous financial results that *probably* won't transpire. So even the most mediocre results will appear fantastic.
Financial Year Results, page-32
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Last
38.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $410.6M | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 38.5¢ | 37.0¢ | $322.8K | 852.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 38000 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 524816 | 7 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| CAJ (ASX) Chart |