If you look at historic support levels, it is becoming very enticing at this price level.
It is a shit storm (some call it a perfect storm) that we're in and ASX is in worse position than our peers as we're in EOFY selling spree. When Nasdaq, S&P500 had a breather on rate rise and gone up 3%, we went down 0.2% on that day. S&P500 yesterday goes down hard, and we start our day with -2.6%. Not only we're fighting with recession, high inflation fear, war, and rising interest rate, ASX is adding EOFY to the mix. Prob only country amongst the sane countries that has this tax offset in place that punishes SP for no fundamental reasons.
I'm tempted to get in at this price level but hesitant to pull the trigger before July as there could be more tax selling frenzy.
But as astute investors say, be greedy when everyone fears. I'm not brave enough to be greedy but I'm man enough to retain my holdings.
IHL Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
