Paladin Energy Shares Hit 52-Week Low: Here’s Why
Paladin Energy shares (ASX:PDN) have fallen to their lowest level in over a year, after the company’s quarterly update revealed a sharp drop in output and a significant jump in production costs at its flagship Langer Heinrich Mine. The Paladin share price fell 9.34% to close at A$7.28, the worst performer on the ASX 200…
Austal Shares Just Bounced 10%: Here’s Why
Austal shares (ASX: ASB) posted their best day in months, after the company confirmed it has extended the due diligence period for South Korea’s :Hanwha Defence USA, bringing the potential sale of its troubled American operations closer to a formal, binding proposal. The Austal share price (ASX: ASB) will head into this morning’s session at…
Commonwealth Bank Shares Snap Three-Day Rally as US Bank Earnings Cast Shadow
Commonwealth Bank of Australia shares (ASX: CBA) pulled back today, closing 2.16% lower at A$151.17 after a brief but promising three day recovery came to a halt. Today’s action invalidates a short-lived technical breakout and returns the CBA share price to a familiar consolidation zone, leaving bulls searching for a fresh catalyst. Today’s pullback gave…
ASX 200 Back To Neutral Today, As Financials Take Pause
The ASX 200 gave back some of the recent gains on Wednesday, closing down 0.64% at 8,727.90 as a pullback in the major banks followed the opening of the US quarterly earnings season. In moving back to neutral YTD, the index remains sensitive to global markets, even as pockets of resilience emerged in energy, and…
Virgin Australia Shares Fall for Sixth Straight Session, Testing Support
Virgin Australia shares (ASX: VGN) extended the recent losing streak to six today, closing down 4.94% at A$2.50 as persistently high crude oil prices, and softening domestic demand continued to weigh heavily on the airline’s near-term earnings outlook. With Wednesday’s close at A$2.50 marking the bottom of what is a key support zone between A$2.50…
Lithium Stocks Under Pressure, As EU Cap Accelerates Selling
A sell-off across ASX lithium stocks gathered pace yesterday, after the European Union announced plans to cap Chinese hybrid vehicle imports. This pushed already pressured commodity prices lower, with major miners moving to the top of the oversold list. The damage to the sector at large was pretty indiscriminate, as Vulcan Energy Resources (ASX: VUL)…
QBE Insurance Shares Edge Towards Pre-GFC Highs, Flashes Overbought Signal
QBE Insurance shares (ASX:QBE) are edging closer to their highest level since before the 2008 Global Financial Crisis, capping an impressive year of outperformance. With technical indicators now flashing overbought, and the share price back at a clear resistance zone, can bulls find the strength to confirm a breakout? The QBE share price added 1.83%…
DroneShield Shares Hit Fresh 52Wk Low, Down 75%
DroneShield shares (ASX:DRO) have been one of the worst performers over the past 12 months, hitting fresh 52-week lows on Tuesday a shade below A$1.50 before closing at A$1.53. The company has seen three quarters of market cap gone in the space of a year, erasing more than A$4 billion in value. Tuesday’s intraday low…
Lovisa Holdings Shares Reclaim Key Moving Average as Momentum Flips
Lovisa Holdings shares (ASX: LOV) have clawed back the bulk of last week’s sharp pullback, with LOV closing 2.31% higher at A$24.40 on Tuesday to recapture the technically significant 200 day SMA in the process. The move is the third consecutive positive session, following a 9.15% drawdown on October 8. That selloff was triggered by…
NextDC Shares Reverse Course, Below A$10 for First Time in Years
NextDC shares (ASX: NXT) suffered a technical breakdown on Tuesday, falling through the psychological A$10 support level for the first time in three years, before hitting a multi-year low of A$9.33. The shift in sentiment from the early part of the year would have caught many off guard, with NXT share now 24% lower YTD,…
