With the comparison to Amazon is that it had major corrections as well. Back in it's formulative years (around 100 dollars share price) it had 3 major corrections greater than 60%. It also had many smaller ones over 30%.
Like i said i'm not saying the company doesn't have a great future outlook but you have to expect profit taking along the way especially at new highs. I'll be watching the PA at 43 dollars and if it clears that out i'll look at high to mid 30's IMHO.
I've attached my thoughts on the technical analysis to show my thought process against the fundamentals. This stock has turned a few times on the 100% expansion. It did it again on this move down to a dime. This is also the weekly elliot wave completion so as i said i'm expecting a correction. However every uptrend it looks to rally off the 50MA and it's currently testing that and it's uptrend line. Then again what would i know...
As always DYOR.
Cheers
With the comparison to Amazon is that it had major corrections...
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Last
$135.44 |
Change
1.020(0.76%) |
Mkt cap ! $20.66B | |||
| Open | High | Low | Value | Volume |
| $132.68 | $135.44 | $132.68 | $47.18M | 349.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 980 | $135.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $135.48 | 433 | 2 |
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| Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
| XRO (ASX) Chart |