Defensive companies such as SMN will be targeted to buy - this is not a spec stock any more IMO.
US rate rises will send money flows into the ASX, not out of it. US rates are on the way up, Australian rates are on the way down.
The market hasn't worked itself out yet after the surprise rate cut and deflationary figures - watch when the money flows start.
With SMN bot traded so heavily there is no TA support that matters. If the bot pushes for a close under $1.80 then it will happen, don't be fooled by an algorithm that specialises in fooling people.
When the sentiment swings or an announcement is made and SMN is trading above $2.20 again the commentary will be 'I wish I had...'
IMO, DYOR
SMN - Chart, page-37
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Last
58.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $79.66M | |||
| Open | High | Low | Value | Volume |
| 57.0¢ | 59.5¢ | 57.0¢ | $39.10K | 67.46K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | 56.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 63.0¢ | 6837 | 1 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| SMN (ASX) Chart |