Haven’t seen any other charts than those posted by
Pete @ Boggo but that very high volume bar looks
If it had blasted price through to a new high I would
View it completely differently.
But without that it looks a lot like supply selling into demand.
I’ll have a closer look.
I see 15 or so trades totalling 7 million or so shares between
1.29 and $1.315 price only moved .5c each parcel
I’m thinking supply taking opportunity.
If so I’d expect resistance to new highs.
Most liked posts in thread: IMD - Imdex Limited
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IMD @ 1.06
That 'confirmed daily trend' I pointed to in the prior post didn't last long
In fact it didn't last at all. Strange, Mitsubishi Financial Group (MUFG) declared a change of substantial holding today and I assumed that might throw light on the 10% drop in IMD's share price today but upon opening the announcement I see that MUFG has increased its holding recently.
A few days ago IMD put out a presentation for UBS that I thought was pretty good.
6 Mth Dly
IMD @ .83
I'm not buying it now personally because there's nothing in the chart yet to suggest a bottoming - that I can see anyway.
Doesn't mean it won't prove a good entry price when looking back in a couple of years. If buying I would be layering in my buys, buying a bit at a time. It does look cheap for an innovative tech company that just had a strong Dec Half and has $25m net cash. FY19 ROE = 12%, current Price divided by fy19 book value = .83 ÷ .58 = 1.43 ... conservative share issuing history, the aforesaid cash, growing book value - cheap if you believe in the future. New M.D seems sharp.
I was trying to get to posting something today on IMD and CDA on the 'Good Stocks to Buy on the ASX' thread actually but I'm having trouble getting some thoughts together. I would have qualified my posts as "good stocks to keep a close eye on" though, not as immediate buys, as I don't feel the selling's over for either, jmo. Maybe it's just pessimism finally getting to me.
All good, I realise that the bun fight isn't over yet..
Only picked up a small parcel, speculative sized.
The flexidrill tech I expect to be a good earner.
Hopefully they get it ready for the pickup, whenever that is...
Actually made a small profit on a day trade today... not on this one though!
Whilst not to related to any technical based system trade - the depth and breadth of shutdowns in exploration drilling across the mining industry has yet to show its impact on the sector. Preventative measures for cv19 are bringing drilling activities in regional and remote areas to halt and is an overhang on near term earnings, don’t know whether this has been factored in to the current equity rout which seams agnostic to the underlying businesses and more of a sell now ask later phenomenon
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