Zzup, I'm not a big fan of profits driving prices. If a company is doing OK, delivering what's expected of it, the price already shows it.
Look at the RIO chart... dropped 40 cents today despite its 125% profit rise. In fact, that chart is looking perilously like an island reversal.
Anyway, those who called an August 6 top may well be right...the top can be a couple of days either side, and August 3 therefore fits the bill.
(Having said all this there'll be an explosive breakout on Monday to prove me wrong)
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Last
8,590.7 |
Change
1.400(0.02%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.1 | 8,610.0 | 8,550.2 |
| XJO (ASX) Chart |