Interestingly a doji appeared at the end of todays trading (candlestick daily). It would seem the shareprice has reached the limit of what bears are willing to sell at. Combined with a large matching buy volume we're seeing the limit at which bulls have decided this share is too cheap to miss a bargain. Although it will require a bullish confirmation tomorrow, I believe a reversal is imminent(doji today plus long lower shadow previous day indicates increased buying pressure. also very far below 8 day EMA)
I suspect that the share price movement may be motivated by politics within the company rather than a reaction to the recent drop in quaterly sales or the looming speculative drop in iron ore spot price. There is a strong possibility that the shares are being pushed down before the annual general meeting on the 8th. Unless there is terrible news at the meeting there should be a strong reversal after. I think its a good time to go bargain hunting.
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Interestingly a doji appeared at the end of todays trading...
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Last
38.3¢ |
Change
0.008(2.00%) |
Mkt cap ! $445.5M |
Open | High | Low | Value | Volume |
38.0¢ | 38.5¢ | 37.5¢ | $322.4K | 849.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 651841 | 38.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
38.5¢ | 230454 | 29 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 659592 | 0.380 |
14 | 205900 | 0.375 |
12 | 134160 | 0.370 |
8 | 133032 | 0.365 |
11 | 165269 | 0.360 |
Price($) | Vol. | No. |
---|---|---|
0.385 | 250909 | 31 |
0.390 | 148603 | 16 |
0.395 | 205359 | 8 |
0.400 | 296151 | 20 |
0.405 | 156581 | 6 |
Last trade - 15.58pm 15/07/2024 (20 minute delay) ? |
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RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
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