Technical selling as it breached the support line of the channel around the 1.06 levels. I mentioned this last week and just like u get buying on break up, u also get selling on break down. Next support is the zone between 0.95-1.00. Then it’s 0.90 cents. However valuation disparity between Mei and Vmm is getting 1:8 ratio which is crazy. Either Vmm is significantly undervalued or Mei is overvalued. At these depressed ree levels and Lynda stating it is looking at the Iac space, will Mei be taken over and then Vmm becomes an easy target as it is part of the jigsaw.
Technical selling as it breached the support line of the channel...
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Last
$1.22 |
Change
0.180(17.4%) |
Mkt cap ! $77.66M | |||
| Open | High | Low | Value | Volume |
| $1.08 | $1.25 | $1.08 | $543.8K | 461.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2588 | $1.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.22 | 10000 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| VMM (ASX) Chart |