From October high of 14.29 to yesterdays 10.02 low, the stock is down 10.02/14.29=30% with no bounce. And today with a 10.16 open price and trading above, you have a bullish Harami pattern developing.
It is typical fear when people buy a stock at higher prices but stop buying or fail to buy a stock when it is much lower.
This stock should have been loaded up yesterday at 10.10 and should be loaded up today. Based on 1. It stopped falling below or near a previous low made in january 2012. 2. Has fallen a nice 30% already 3. A bullish Harami has developed today. 4. It was and still is a large company that once traded at $32. 5. The past chart history looks like a Telstra chart (everyone hated TLS at 2.60, now they want her bad).
I think buy QBE and take the gamble (or trade) here.
i think buy
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 (20min delay)
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Last
$16.82 |
Change
-0.180(1.06%) |
Mkt cap ! $25.27B | |||
| Open | High | Low | Value | Volume |
| $16.97 | $17.10 | $16.82 | $53.20M | 3.148M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 8319 | $16.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.85 | 10000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| QBE (ASX) Chart |