Technically speaking, shares retreating back to the doghouse after a powerful run from the yearly lows to the mid 50s.

• Back below the 50DMA
• Below the 200DMA (did not touch this level even on the strong rally prior)
• Sell volume increasing on the recent slide
• RSI back into bearish terriority though not yet oversold
• MACD/PPO crossing negatively

Shares need to make a higher low and chart a path to higher highs from here to repair the damage.

This absolute ball-tearer of a week has obliterated the steep downtrend that formed in the months preceding it.

It is hard to be bearish on technical grounds now (save for a healthy pullback or consolidation near-term), and with the fundamentals set to improve over the next couple of years, the set up still looks good for accumulation for those with a long-term view.

These kind of diktats don't sound particularly appealing to me, if I was an employee. Atleast he's trying to make up for it with the in-house perks...

https://www.theguardian.com/business/article/2024/aug/29/australian-billionaire-boss-coffee-breaks-office-chris-ellison-perth-mineral-resources