The thing that strikes me is that all the bulls of the stock are focussed on its individual merits and not the wider macro economic environment.
A number of sovereign states are on the verge of bankruptcy and could crash worldwide markets in which nothing survives.
At the end of the day the stock market is a voting machine not a weighing machine and many investors will face forced liquidation of their portfolios.
Having said that the Nasdaq has declined for 33 Fibonacci weeks with a potential turn point at 34 weeks ( +/- 1 week) and 38.3 retracement at 10627-10730 where 50 Month SMA and 55 Month EMA also lie.
i believe markets will find support there for a technical rally albeit only an interim bottom.
New TA/Charting, page-8887
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Last
85.0¢ |
Change
-0.030(3.41%) |
Mkt cap ! $2.061B | |||
| Open | High | Low | Value | Volume |
| 88.0¢ | 88.5¢ | 85.0¢ | $9.549M | 11.08M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 46 | 599201 | 85.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 86.0¢ | 100953 | 8 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| LTR (ASX) Chart |