NEU

5.50%

$16.15 neuren pharmaceuticals limited

Love seeing a combination of fundamentals and technicals...

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What A Gas

6,102 Posts.

1632

11/08/24

20:35

Post #: 75160807
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Love seeing a combination of fundamentals and technicals discussed, even if this is a 'Chart Only ' thread.

Reason being that there are very few (disclosed) momentum only traders here.

Most wanting advice appear (to me) to be long termers wanting reassurance they are on a good bet.
Thus the timing and results of fundamentals inflection points must be part of the equation.

Originally posted by Esmer: ↑

Attempting to remove the psychology (and probably some so-called AI) that may have been involved in Friday's SP gyrations, and concentrating only on the fundamentals, IMO the SP now looks undervalued.

IMO, Friday's gyrations were partly caused by panic selling that resulted from holders watching how the Acadia guidance affected the pre-open match price, and then watching with horror the match price sink further during the pre-open after the Angelman results P2 were announced, particularly as the P2 results were actually positive. Possibly some did not have enough time to properly digest the P2 results, however what they could see was that the SP was taking a big hit, so took fright due to fear that something had gone horribly wrong. It might not have just been retail investors, but some instos might have also got caught up in the stampede possibly having misinterpreted the situation and possibly thinking that there was a good trading opportunity to sell and buy lower later. AI may have been to blame.

The SP turned upwards and then moved upwards very fast, soon after trading began. Only the very nimble would have grabbed the biggest bargains which were not available for very long. Although selling pressure remained throughout the day, the overall trend for the day after the initial selloff was upwards.

A similar scale of SP gyrations in other stocks usually results in a much higher volume of shares changing hands than happened for NEU on Friday, which IMO technically means that for NEU there isn't really as much selling pressure as the SP fall would indicate.So, unless some big holders now get the jitters and decide to dump, IMO on my technical chart the SP is likely to now move upwards to possible resistance at $18.50.

This is all just my humble opinion based on a mixture of technicals and fundamentals. Pharma stocks can be very volatile.

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NEU Price at posting: $16.15 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $16.15		Change -0.940(5.50%)		Mkt cap ! $2.064B

Open	High	Low	Value	Volume
$15.04	$16.33	$14.65	$25.91M	1.638M

Buyers (Bids)

No.	Vol.	Price($)
1	125	$16.15

Sellers (Offers)

Price($)	Vol.	No.
$16.20	1500	1

View Market Depth

No.	Vol.	Price($)
1	125	16.150
1	650	16.110
1	500	16.100
2	510	16.050
1	662	16.040

Price($)	Vol.	No.
16.200	1500	1
16.290	10000	1
16.500	1250	2
16.600	100	1
16.750	1000	1

Last trade - 16.10pm 09/08/2024 (20 minute delay)

NEU (ASX) Chart

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