Probably about to show just how bad things are in terms of affecting their bottom line. That will be another confirmation of how well A2 are doing in comparison, although you wouldn't think so going by the panic selling today.
As ATM broke down through the short term technical rising trend-line support today, it followed through for a 5% decline. Call it panic selling if you want to, though more likely just savvy traders scalping a tidy profit off the recent rise. Probably has nothing to do with the fundamentals either, as ATM does seem to have settled into range-trading situation for the past year, so hardly surprising traders take advantage of it. I strongly doubt that there's any panic selling, more like savvy selling.
As ATM broke down through the short term technical rising trend-line support today, it followed through for a 5% decline. Call it panic selling if you want to, though more likely just savvy traders scalping a tidy profit off the recent rise. Probably has nothing to do with the fundamentals either, as ATM does seem to have settled into range-trading situation for the past year, so hardly surprising traders take advantage of it. I strongly doubt that there's any panic selling, more like savvy selling.
There is little doubt yesterday's ATM SP decline has been caused by the uncertainty of BAL (ASX) in trading halt. This halt expected to be removed/explained/resolved on Wed and it will be interesting to see how ATM's SP responds after that.
The key learning at this stage is that what effects BAL may at some stage effect ATM in the extremely volatile Chinese market. However, in the short term, I suspect BALs loss will be ATM's gain.... time will tell.
Long term there are many dangers for any business too reliant on China. International diversification is the key to a healthy ATM in the long run. (DYOR - ATM holder)
As ATM broke down through the short term technical rising trend-line support today, it followed through for a 5% decline. Call it panic selling if you want to, though more likely just savvy traders scalping a tidy profit off the recent rise. Probably has nothing to do with the fundamentals either, as ATM does seem to have settled into range-trading situation for the past year, so hardly surprising traders take advantage of it. I strongly doubt that there's any panic selling, more like savvy selling.
You call them savvy sellers, I call them panic sellers and over on hotcopper they call them dumb sellers, the question is which description is correct? Looks like panic to me when the stock sales are going in the opposite direction to the sales of the company in the trading halt, perhaps the hotcopper description is correct after all.
You call them savvy sellers, I call them panic sellers and over on hotcopper they call them dumb sellers, the question is which description is correct? Looks like panic to me when the stock sales are going in the opposite direction to the sales of the company in the trading halt, perhaps the hotcopper description is correct after all.
I sold the last of my ATM at 2.44. No panic, and I don't consider it dumb.
Simply a matter of a company getting over-bought and over capitalised. ( worth $1.77 billion? Sometime maybe, but not yet)
There remains the option now, with the price falling through $2.21, to buy back in and end up with 10% more shares or remain out of the market risk free - upside and downside, all the way back to 2.44.
Panic? Stupid? To my simple mind it just makes sense.
Originally Posted by Left field
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