Will this week see a decisive break? (will keep it short as covered in weekly report)
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Yes SYA gained 2c to finish at 21.5c. Our volume was very good, highest in last 6 months, just over 198m shares traded. So we got 2 good announcement in last 2 trading days, all very positive. We managed to get out of the 20 block, made some gains, but I feel that we did not get the gains we deserved. Neither for the announcement nor due to any short squeezing. Are the shorters still expecting to push it down? It should not be easy any more - I have a feeling next day or so could be decisive if we have to have a breakout. I picked up more today on open at , so my average for this phase for trading is now 19.5 - it was 19 before. Still hold plenty long shares. Lets see what is in store - it would be good to get above 24 for a start.
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ASX Li stocks were generally in good mood today. Of the 73 stocks that I track, average gain was around 2%.
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What next:
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So will this week provide a decisive break towards the upside? From a chart perspective its still looking very bullish but many say that economic conditions are not conducive for a bull run. As usual different opinion and hence its not able to break out.
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Many are calling for 2002/2008 still meltdown, but not all economic conditions are bad or similar to those times. Economy is still robust, earning reports are still coming out well, employment is still strong - so different conditions and one of the reasons I feel that we may not have that meltdown. The downside is if we don't get a soft landing or credit crunch becomes entrenched. But still a long way to see if that will happen.
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So what will happen tonight? US Futures in slight green. Asian markets generally green though not very high. Lot of earnings report including financial institutions plus some housing data. Downside we need to hold 4100. Upside, it would be good to touch the elusive 4200 even if we don't finish above that today. Will that happen? Lets hope so. All the best.
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Last
2.7¢ |
Change
0.001(1.92%) |
Mkt cap ! $272.7M |
Open | High | Low | Value | Volume |
2.6¢ | 2.7¢ | 2.6¢ | $159.7K | 6.124M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
24 | 3808935 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.7¢ | 8178007 | 31 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
23 | 3808925 | 0.026 |
46 | 13412280 | 0.025 |
31 | 9095295 | 0.024 |
27 | 6190790 | 0.023 |
21 | 5998873 | 0.022 |
Price($) | Vol. | No. |
---|---|---|
0.027 | 8178007 | 31 |
0.028 | 7706185 | 19 |
0.029 | 3716374 | 22 |
0.030 | 9979986 | 35 |
0.031 | 6316184 | 13 |
Last trade - 13.39pm 19/08/2024 (20 minute delay) ? |
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SYA (ASX) Chart |