Sunnyaus
I'm reading Guppy's Trend Trading printed after 2004.
When a share's SP goes into a substantial fall there comes a time when traders then investor THINK "the value of the share" and the share price are coming together. The aggressive traders will try to pick the bottom (agreement on value and price) and start the buying. If there is enough early traders and then more, then the SP will rise, and if higher enough then investor will buy in. I think we are possibly at that point now. There seems to be some resistance to allowing the SP to go lower. If not then it is going south.
Another side is - the market looks 6-9 mths ahead to price the share today. So although spod is dropping our tonnes mined and processed is increasing - P680+ rate by the end of Dec 2023. POSCO is advancing to production next year (with in the 6-9 mths ahead). So the market is looking at all things about PLS, lithium price. batteries evs ess etc.
So it becomes, is there enough traders and then investor to stabilise the price around the 3.40-3.80 area until lithium starts to rise in price again. JMO.
SunnyausI'm reading Guppy's Trend Trading printed after...
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Last
$2.79 |
Change
-0.130(4.45%) |
Mkt cap ! $8.398B | |||
| Open | High | Low | Value | Volume |
| $2.89 | $2.92 | $2.79 | $56.11M | 19.76M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 43 | 231594 | $2.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.80 | 28889 | 3 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |