Remember Technical is still married to fundamental. They fight often but they come back together always.
Fundamental says at this PER of 6x valuation, CF and Divvie expectation and sitting below $3.00 when Ord Minnett have $4.70 Val says $3.60 is where we should be on a pull back but not 2.85.
This is not the QAN of old it is a cash generating machine. In strong competitive positions with desperate competition.
Shorts have tried pushing it down and 2.85 is where they keep trying to push but it is a KEY support. So shorting for 7c or buying for 20-30% upside....your call shorts.
Shorts might try again Monday but Shares at this level hard to find. Register is tight until earnings in 8 weeks. Very risky to Short here because earnings will be best in 10 years an if it bounces $3.00 again it will likely touch $3.30 fast.
Long overdue a rally. At this level of oil we were trading between 3.25 and $3.40 and still ahead of earnings.
GG
QAN ...Chart, page-81
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Last
$6.21 |
Change
-0.010(0.16%) |
Mkt cap ! $10.11B | |||
| Open | High | Low | Value | Volume |
| $6.25 | $6.27 | $6.18 | $23.05M | 3.707M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 16518 | $6.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.22 | 1478 | 2 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| QAN (ASX) Chart |