I came to the same conclusion, surely the Novartis approval was priced in long ago. I did refrain, however, from buying the dip because of the strong downward momentum over the last couple of months (so it's not really a dip, just a continuation of the trend!). Technically, the next area of support is around 3.80 which corresponds with a 61.8% fib retracement. It nearly reached this yesterday bottoming out at 4.01. I suspect this is where the base will be so will be looking to buy value on evidence of price rejection.
How low will it go?, page-93
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Last
$22.98 |
Change
-0.490(2.09%) |
Mkt cap ! $7.691B | |||
| Open | High | Low | Value | Volume |
| $23.25 | $23.36 | $22.78 | $32.40M | 1.409M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | $22.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.99 | 421 | 1 |
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| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| TLX (ASX) Chart |