0119 GMT [Dow Jones] Technical analysts have spotted a potentially lucrative trading pattern for Australian retailer Myer (MYR.AU). "While Myer has not been our favourite in the sector, because of its down-trodden price, we can see a trading opportunity for those happy to deal with a little risk," says Michael **le, portfolio manager at Fairmont Equities in Sydney. He says recent moves up were characterized by "good volume and impulsiveness," while moves down came with lower volume, making a rise just under A$2.00 possible. While official data shows Myer remains one of the most heavily shorted stocks on the ASX, indicating a longer-term downtrend, **le sees enough upside for a trade in the short term. Myer last traded 0.3% lower at A$1.46 Wednesday morning. ([email protected])
Editor JSM
(END) Dow Jones Newswires
May 19, 2015 21:19 ET (01:19 GMT)
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Last
78.0¢ |
Change
-0.060(7.14%) |
Mkt cap ! $648.8M |
Open | High | Low | Value | Volume |
78.0¢ | 81.0¢ | 76.5¢ | $4.788M | 6.123M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 15634 | 77.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
78.0¢ | 130460 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 15634 | 0.775 |
11 | 89064 | 0.770 |
6 | 113319 | 0.765 |
14 | 280001 | 0.760 |
7 | 93657 | 0.750 |
Price($) | Vol. | No. |
---|---|---|
0.780 | 130460 | 2 |
0.785 | 50000 | 1 |
0.790 | 52725 | 4 |
0.795 | 52660 | 2 |
0.800 | 25400 | 4 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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MYR (ASX) Chart |