I wouldn't be so sure about that. The weak hands are being cast aside. The disciplined traders are being stopped out. The long termers are waiting on the sidelines to see where this price bottoms out.
There is simply no buying pressure, so the sellers are ruling the roost.
However, there are a few macro factors that will be playing out over the next week or so as well as some stock specific factors that could very well shake up the dynamics.
Don't believe it is all one way traffic.... down. There's just no need to want to buy any more just yet. But, for how long...??
PLS chart, page-285
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Last
$3.22 |
Change
-0.040(1.23%) |
Mkt cap ! $9.691B | |||
| Open | High | Low | Value | Volume |
| $3.24 | $3.25 | $3.19 | $57.57M | 17.90M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 120600 | $3.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.23 | 135477 | 7 |
View Market Depth
| Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |