I'm accumulating at this price. But, as a bag holder at $24, what do I know? :t_up:
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I'm accumulating at this price. But, as a bag holder at $24, what do I know? :t_up:
https://www.shortman.com.au/stock?q=A2M
Short coverings in progress, locking in profits.
Excellent perspective on what is needed to get A2M firing again :
https://www.livewiremarkets.com/wire...r-a-turnaround
So what's happening right now?
Daily RSI was massively oversold and there hadn't been a rally in weeks. For a trader this rally was expected. We are now looking for a daily lower high to be set, which would be confirmed by loss of the hourly uptrend.
We are still in a daily/weekly/monthly downtrend, so the overall trend has not changed and an uptrend from here is not the most likely case.
Disc: trading, but not holding overnight positions due to news risks.
Sure, while it hurts to see what happened with COVID situation, its probably big wake up call for Board and Management not to be complacent and that's big negative from me on both Geoff and Peter not to have plan B in place if things went astray.
From new CEO David's point of view, he's great opportunity to revamp company's strategic direction to better prepare for further shocks. Let's see if he can be successful in steering the ship smoothly and for long term.