Koro - I initially tended to agree - however there are three things that I don't like.
1. 4.9 m of the 25.6m turnover yesterday was buyback. That is not a good look as far as the price being bid up by the market is concerned, as there would have been a fair bit of churn with such a broad trading range as well. Some big holders who want to get out might be happy to keep taking advantage of this buying.
2. SWM got smashed on this news as well - (but TEN didn't - lol). Suggests to me there is a sense that the sector will not be doing as well in the future as previously expected.
3. NEC is trading at a significant premium to the rest of the sector, but not outperforming. Imagine it gets rated to about the same as SWM - that will hurt.
Will be interesting to see what happens today.
Ann: Trading Update, page-3
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 (20min delay)
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Last
$1.28 |
Change
0.010(0.79%) |
Mkt cap ! $1.958B | |||
| Open | High | Low | Value | Volume |
| $1.29 | $1.31 | $1.28 | $4.863M | 3.819M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 68389 | $1.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 25886 | 4 |
View Market Depth
| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| NEC (ASX) Chart |
