I agree whenever there is a market meltdown commentators say everyones selling but any number are buying!
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I agree whenever there is a market meltdown commentators say everyones selling but any number are buying!
"For every buyer, there must be a seller."
In this case the market maker?
If a tree falls in a forest and no one is around to hear it, does it make a sound?
Depends on how many supplejack are holding it up and if they can, its a maul; very noisy:t_up:
Actually, share prices move on the day depending on where the balance of buying and selling resides.
More sellers than buyers, price goes down.
More buyers than sellers, price goes up.
Punters like to comfort themselves when prices are falling that for every seller, there's a buyer. Actually true but sellers have to move down to meet buyers' price and vice versa.
Yep Balance...These comfort punters should google "buyers market"....anyway for now at least TGH market have changed to a sellers market..
The price has moved from its 1.05 bottom to today at 1.21 which happens to be part of the bear/bull resistance zone price (1.21 is the closing day resistance line)...Going above this 1.21 line one should exercise caution for the margin of error as the intraday resistance line is at 1.23)...So a price above 1.23 indicates a higher high and puts a check on the downtrend and puts the bear on notice (chartwise a strong buy signal)..If the price fails to break though the 1.21/1.23 resistance and falls away, it marks the end of another sucker rally and one should expect the downtrend to continue and the price to revisit and put pressure on the 1.05 bottom..
Currently at 1.22
Disc: on watchlist
Really though Hoop it all depends on the annoucement on Tuesday doesn't it. A good result and trend upward will continue, a bad result and it will go back down. People are taking positions at the moment expecting a fairly solid result in line with guidance. It completely depends on the result where this goes.
I suspect market expects a result at the bottom end of the forecast - and in the absence of a downgrade to date, I agree TGH will most likely deliver towards bottom end of forecast (Ogden resigning is indicative of that).
The outlook is what is critical - abatement of competition and discounting, export market growth and payment of dividend from cashflow rather than debt.