The drop off in volume down to 1/9th (in round figures) of yesterday's volume is significant and indicates in my view almost no supply down at these levels i.e price is too low for sellers to sell (or maybe buyers are holding off waiting for a "bottom"--dangerous sport,as we saw before) . The small trades have a lot to do with algorithmic trading which splits up trades ,but short sales have increased (they were 28,000 odd in round figures yesterday in the higher volume and we will know today's short sales at 11.30am tomorrow -- they may have had something to do with the sudden drop back of momentum from $2 yesterday ,halting momentum , (and a similar pattern today) as shorters try to protect their difficult positions in the general price rise by selling more and so reducing price--a doubling down (again dangerous sport if that is right).I must say noone would get my EML shares for a piddling $2 or anything like it on a straightforward trade .Fallbacks from a spirited opening are also not uncommon in general trading . If there is manipulation it is usually hard to pick (if you were manipulating you would be very careful to disguise it ,penalties can be severe ,including the clang of prison doors and there is a fine line in what you are permitted to do) ,but the course of trading could be consistent with either shorters or accumulators taking advantage of opportunities to achieve lower SP -- I do not suggest illegitimately--that is for the regulators ASIC/ACCC and I don't have an opinion to suggest .Their problem may be that noone is willing to sell at current prices.There is not long to wait until the HY in Feb. in any event ,and the figures, and that should provide a concrete base for valuations and SP,bearing in mind that as a growth stock , an allowance should be added in for future projections of growth. As always in the market ,a little patience goes a long way imo...the old adage is that the market is an exercise in transferring money from the impatient to the patient. Of course, all the above is my opinion only ,like everyone else's on these forums.
- Forums
- ASX - By Stock
- Ann: EML Signs Agreement with McMillan Shakespeare Ltd
The drop off in volume down to 1/9th (in round figures) of...
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add EML (ASX) to my watchlist
(20min delay)
|
|||||
Last
$1.01 |
Change
0.025(2.54%) |
Mkt cap ! $252.1M |
Open | High | Low | Value | Volume |
98.5¢ | $1.03 | 98.5¢ | $4.678M | 4.654M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 500 | $1.01 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.02 | 4414 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 20101 | 0.705 |
5 | 116332 | 0.700 |
2 | 32784 | 0.695 |
4 | 32862 | 0.690 |
4 | 160449 | 0.685 |
Price($) | Vol. | No. |
---|---|---|
0.715 | 18450 | 2 |
0.720 | 71784 | 3 |
0.725 | 21530 | 3 |
0.730 | 19444 | 4 |
0.735 | 304 | 2 |
Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
EML (ASX) Chart |