Todays price action was terrific... STO has to continue its upwards movement from here as if it corrects, it might close the gap left behind. Personally, I think this takeover offer was a bit of a joke. Not sure about how strict is the takeover bid process, but if this group was really serious, they would do their analysis and make a proper offer, but that's what I think, what the market will make of it is a different story.
As I posted previously, usualy high volumes preludes the turns in the market. Today's volume was high but not as high as of the $4 bottom. Certainly, loads of shares changed hands today, like it did @$4. I'm guessing who took positions and who left this stock. Tomorrow will tell if it was distribution or accumulation... Chart below.
Where to from here???
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 (20min delay)
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Last
$8.02 |
Change
0.020(0.25%) |
Mkt cap ! $26.04B | |||
| Open | High | Low | Value | Volume |
| $7.95 | $8.03 | $7.95 | $72.35M | 9.133M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11377 | $8.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.02 | 299409 | 10 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| STO (ASX) Chart |