I think that the extent of any pullback from here as the market digests this "breakout" in price, will be no worse than to 60 cents, but I would not even attempt to play for that possibility.
On occasion you do get seminal announcements from a company which are indeed game changers as judged by the market and the evidence can be seen on the chart. I believe, as many do here, we have such an announcement. A gap left on the chart remains just that.
Pardon me for bringing in the chart of an "unnamed"stock but it's interesting to see the aftermath of those rare crucial announcements where a gap of sorts is immediately produced - you just can't predict the manner in which these things will play out.
October Charts !, page-39
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Last
$3.15 |
Change
-0.160(4.83%) |
Mkt cap ! $9.486B | |||
| Open | High | Low | Value | Volume |
| $3.20 | $3.22 | $3.09 | $384.4M | 121.3M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1587 | $3.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.16 | 20000 | 2 |
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| Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
| PLS (ASX) Chart |