I hate to say this folks, but I do not beleive for a second this is over just yet.
Yes, Thursday trading produced a good lift - c10% up - but volume yesterday was really low (comparably).
What does this mean then? It means buyers did not increase....the sellers just stopped selling for a bit, let the price come back up, and then down again.
Look at the volume already today - its already close to 50% of what was traded yesterday and as I type this its only 11.20am.
Given that:
- VUL had a massive rise over the last few months - which I was thankfully a part of (I sold at $13.58 a number of weeks ago)
- They are not making revenue yet
- They are not providing a dividend - nor will they for a long time
- It is still very much speculative
- There is a short seller openly saying to the market the are shorting
- There are very few if any natural support levels between $13 and $8-9 ($8.40 being the 50% of the All time high, this is the strongest level the stock has)
- it made a new low this week when it hit $10.81, breaking the previous low of $10.92 just a few weeks ago
- it did not make a new high in the last rise, instead it looks to have made a head & shoulders pattern on the weekly chart
I would say the probability is to the downside.
Only my opinion, but I would suggest some care required on this one. DYOR
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Last
$4.25 |
Change
-0.190(4.28%) |
Mkt cap ! $799.8M |
Open | High | Low | Value | Volume |
$4.42 | $4.55 | $4.24 | $1.719M | 396.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 559 | $4.25 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$4.26 | 44 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 559 | 4.250 |
2 | 3127 | 4.240 |
2 | 3873 | 4.230 |
2 | 1383 | 4.220 |
2 | 1546 | 4.210 |
Price($) | Vol. | No. |
---|---|---|
4.260 | 44 | 1 |
4.270 | 59 | 1 |
4.320 | 5860 | 3 |
4.390 | 4000 | 1 |
4.490 | 172 | 1 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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VUL (ASX) Chart |