I believe the selling to be more technical than fundamental. All I could see in the report was impact of bad weather - which was minimal in the scheme of things.
Technically stock had a recent shooting star at $3.20. Tried again and failed at $3.10, then completed a head and shoulders and broke the 3 month upward trend line on the daily charts at $2.96. My guess is there were a heap profit of stops triggered which exacerbated move downwards. There wasn't huge volume with the move down.
I agree IMD is a fantastic company.
Once the dust settles and it finds a new base, i'll be loading up
interim result 2012, page-17
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Last
$2.22 |
Change
0.000(0.00%) |
Mkt cap ! $1.133B | |||
| Open | High | Low | Value | Volume |
| $2.22 | $2.27 | $2.20 | $3.445M | 1.544M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1250 | $2.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.24 | 1288 | 2 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| IMD (ASX) Chart |