What you are commenting is the oil tanker shifting direction or the longer term view. Shorter term, can PLS afford to tolerate shifting sands since the debt pile will need to be serviced from profits.
In the space of a year, our commodity sector has now decided that leverage to the China story is high risk! The Oz-China diplomatically keeps finding new lows which in the current pandemic isn’t helpful in general with the growth in economic potential going backwards.
Hence bottom picking this sector is high risk besides shorter term trading opportunities. Recent price swing is testimony of a typical bear bounce. One just never know if interim goodwill can be maintained or the so called exit opportunity. Add a US election, volatility is just a matter of time. Unfortunately, objectively speaking the Li bubble burst Sometime ago and only hindsight makes it clearer. The fast money has gone elsewhere to play.
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$3.29 |
Change
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Mkt cap ! $9.907B |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6526 | $3.45 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.29 | 4700 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6526 | 3.450 |
2 | 3579 | 3.400 |
3 | 14093 | 3.380 |
3 | 3642 | 3.360 |
2 | 640 | 3.350 |
Price($) | Vol. | No. |
---|---|---|
2.290 | 4700 | 1 |
2.640 | 32985 | 6 |
3.100 | 4426 | 2 |
3.110 | 32818 | 4 |
3.130 | 121191 | 6 |
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