Why did 29M.AX stock drop sharply intraday?

The drop to **A$0.43** coincided with huge volume (**35,242,251** shares). No company release explained the move, so likely causes are large block selling, portfolio reweighting, or stop-loss cascades amplified by market liquidity.

What is Meyka AI's view on 29M.AX stock prospects?

Meyka AI rates 29M.AX **58.06 (C+) — HOLD**. The model sees upside to **A$0.61** monthly but flags earnings losses and funding risk. This is informational, not advice.

What key levels should traders watch for 29M.AX stock?

Key support is near **A$0.35** (200-day area). Resistance sits between **A$0.55** and **A$0.62**. A sustained move above **A$0.55** would improve the technical outlook.

When is 29Metals' next earnings announcement?

29Metals' next earnings announcement is scheduled for **19 Feb 2026**. Monitor that release for updated EPS, cash flow and guidance that could change the stock outlook.

AU Stocks

29M.AX 29Metals (ASX) down 30.65% to A$0.43 intraday 22 Jan 2026: what it means

ByHuzaifa Zahoor January 22, 2026January 22, 2026

We see a sharp intraday sell-off in 29M.AX stock after the price fell 30.65% to A$0.43 on 22 Jan 2026 on the ASX. Trading volume spiked to 35,242,251 shares, almost nine times the average, signalling forced selling or block trades. The move pushed price well below the 50-day average of A$0.49 but above the 200-day average of A$0.35. We review fundamentals, technicals and forecasts to explain the drop and outline what investors should watch next.