jayinaussie,
Sentiment is in the eyes of the beholder!
You take the price action over the past 2 days and direct it towards a negative reaction against the Director selling.
I look at the very low volume today and see a few people throwing the baby out with the bath water.
The general spec market is a NO-buy zone at the moment as the majority of people sit on the sidelines and await for market direction. ADO was also under pressure from the technical trading aspect - (GAP's, Retrace levels, Support Levels and many more).
Now I will give you my sentiment based on what I have seen today.
1. Buyers came from off the screen and hit sizeable offers +ve sign
2. ADO did not completely tank today - 4.5 was tested numerous times and held +ve sign
3. Very low volume less than 19million traded +ve
4. Avg parcel sold approx $4k = small fry selling +ve
For the first time I am seeing sizeable accumulators take out the flee's.
Anyway that's the way I see it at the moment and hence my sentiment is different to yours.
Markets pending I would anticipate an accumulation up to 6.5-7 within the next week and another breakout above 7 soon thereafter possibly on news.
IMO
DYOR
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Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.90M |
Open | High | Low | Value | Volume |
1.9¢ | 1.9¢ | 1.8¢ | $30.29K | 1.594M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 1427131 | 1.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 79989 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500 | 0.019 |
8 | 1140827 | 0.018 |
7 | 1381891 | 0.017 |
4 | 813833 | 0.016 |
7 | 1203869 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 79989 | 1 |
0.020 | 387684 | 3 |
0.021 | 592746 | 5 |
0.022 | 505000 | 2 |
0.023 | 190000 | 1 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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ADO (ASX) Chart |