Hi
@ttppxx I refer to your
Post #: 73811836 on 14 May 2024, about market price sensitivity of ANN's - in this case posted by you per the "Africa Asia Summit Presentation" Thread.
Note from your chart per that Post (as my latest Commsec 3-month daily candlestick chart also depicts) there were
4 bullish inverted hammers created on 03,08,10,& 13 May, and yet another one today! – which usually indicate – after so many being created on just 5 trading days (out of 10) – that under normal circs they are likely to indicate a change from currently flat to upward, in the short term.
IMO though, holders need to be careful about considering leveraging downward now – given the current low SP - because of tax-loss selling likely to eventuate in the period over the next few weeks, which is the annual behavioural norm in such a period, till shortly before 28 June, the last trading day of the 2023/24 FY.
Even if the PPSA is announced in that period, and
the SP correspondingly jumps,
IMO that jump will only last a short while, and then resume drifting downward again, a drift that thus could be exacerbated by even more tax-loss selling!
