dont know why its falling, but looking at the chart you have 27.50 and 22.60 as previous short term chart lows, and one would think that these would have to hold UNLESS some fundamentals have changed.If 27.30 breaks it would be bad, in fact you wldnt want 27.50 to break as thats the main short term low.
I dont think 27.50-27.60 will break unless theres a change in internal company fundamentals
Its in the top 5 stocks on the ASX and PE isnt too high for 10%+ growth per year every year
Market is in decent shape too after the employment data from the USA suggesting jobs recovery!
So why should it fall below KEY supports unless fundamentals have changed. Volume is stepped down too in trend on the fall?
I think 'traders' want to push it to 27.50 and it SHOULD(?) touch it momentarily and BOUNCE
It looks like its a 'technical thing moreso than fundamentals IMO'
Watch for the 'bounce' off 27.50(s)
dont know why its falling, but looking at the chart you have...
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$33.79 |
Change
-0.090(0.27%) |
Mkt cap ! $41.27B | |||
| Open | High | Low | Value | Volume |
| $34.00 | $34.10 | $33.68 | $66.46M | 1.964M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 965 | $33.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.79 | 11715 | 4 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| WOW (ASX) Chart |