For those interested in the technical analysis, yesterday we formed a hammer candle as @Swage_17 suggested. With the volume that went through and the gap up today, we are looking at a potential 'morning star' formation which should signal a reversal.
Volumes so far have been decent, so we could have some institutions buying in now, this maybe in time before earnings which IMO will be strong. May is typically a down month for trading in general. Quite a number of US retail companies have outperformed despite the 'inflation' and rate hikes so the pressure downward is likely not based on fundamentals.
GDP figures from the US last night came in well below expectations and this is favourable for controlling current inflation levels - less risk of a rate hike and more chance of a rate cut via this metric.
For those interested in the technical analysis, yesterday we...
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Last
$13.70 |
Change
-0.020(0.15%) |
Mkt cap ! $2.004B | |||
| Open | High | Low | Value | Volume |
| $13.66 | $13.76 | $13.46 | $8.893M | 652.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 486 | $13.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.70 | 165 | 1 |
View Market Depth
| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| CTD (ASX) Chart |