Trade depth suggests we may test previous highs of 2.70s range as seen in Dec'21 when they announced about property sale.
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But hopefully it doesn't crash back down like last time though. :p
Hit 2.70 sooner than I tht...
Someone flicked the switch - $2.70. Leaky ship?
Combination of Instos buying and FOMO kicking in I guess..
.....more likely someone has seen something that shouldn't have (well, not until 24 February) and told a mate who told a mate.
good volume to close
269 50,000 17:11 SP
2 Degrees parent Trilogy has gone in to a trading halt.
A stock always pulls back after a strong run. What is important is how much it pulls back. The more it pulls back, the lower the probability of it going on to make new highs.
It seems like SKT pulled back a large amount, however it was actually in the range for a continuation pattern (weekly bull flag i.e. less that 38% retracement and hold EMA12). This means continuation to new highs is favoured probability wise. In fact it retraced to my accumulate target pretty much to the penny. Adjusting my long term portfolio I allowed myself to add even more (after trimming other NZX positions) and I most certainly loaded up the swing trading account.
Can't predict what will happen, but after watching so many charts this is what I see as most probable... We won't immediately break to new highs, instead will reject from resistance initially. This will give us a daily trend change which still hasn't occurred, thereby firming up a support level. We will then break out some time next week prior to the announcement. But all this doesn't really matter as either way true value will be shown on the 23rd.