Not easy to watch, the EOFY selling has been brutal amidst extremely low sentiment. Technically, we're at our most oversold level on the Weekly ever, with bullish divergence on the Daily timeframe. Fundamentally, nothing has changed but I believe that SHs are selling out as we capitulate, realising losses, plus chasing other opportunities (because they do exist, plenty of stocks performing extremely well at the moment). The biggest change for me was the pivot to 2028 Production, this was a big change and a long way away, the market is impatient. Nova did well to sneak that into the commentary.
The research notes that the company is sharing are all valid, it's all correct (we're massively undervalued, peers are many many multiples of us, the deposit appears economically sound etc). But we need something significant to turn this ship around, I'm not sure what that is.
I'm buoyed to see CB buying multiple increments of $100k+, but it's not doing much amidst the red sea.
Not easy to watch, the EOFY selling has been brutal amidst...
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Last
28.0¢ |
Change
0.010(3.70%) |
Mkt cap ! $59.63M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.0¢ | 28.0¢ | $6K | 21.42K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 4233 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
28.0¢ |
Change
0.010 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 27.0¢ | 28.0¢ | 27.0¢ | 5170 | ||
| Last updated 11.32am 03/05/2024 ? | |||||
| NVA (ASX) Chart |