There is a massive over reaction to the price dropping. Look at the volume $200k-$400k a day of trading, dropping the price by 10-15%, and I’d predict a lot of that is short term trading buying/selling.
The issue is not the selling, but a lack of buying. People just sitting off waiting maybe until August (at their own risk).
Look at the sell stack - where would a solid positive $2m-$3m trading day would take us.
Don’t get spooked (or overjoyed) by low volume movements.
Removal of $3 prop, page-33
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 (20min delay)
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Last
$16.71 |
Change
-0.590(3.41%) |
Mkt cap ! $2.135B | |||
| Open | High | Low | Value | Volume |
| $17.50 | $17.55 | $16.57 | $10.01M | 594.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 598 | $16.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.87 | 1676 | 1 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| NEU (ASX) Chart |