GBG 0.00% 2.9¢ gindalbie metals ltd

any views on why the stock is being punished?, page-14

  1. 17,215 Posts.
    lightbulb Created with Sketch. 375
    yep disappointing for sure. I bailed out today on the break. 27c was significant support and it has been broken on volume. I would suggest that for now 27c will become resistance and I fear GBG will now visit the low 20s again. I noted yesterday that the bollinger band had tightened and that usually indicates that break is coming either up or down. Yesterday I was postive and had hoped for the break up and the completion of the reverse head and shoulders....but that was not to be

    This is why I like to have technical rules to limit losses. We never really know the TRUE fundamentals of a company. I have enjoyed Gindaldan's fundamental analysis as he seems to be right across this company. I have noted that he had concerns about further cap raisings and I did take on board how he noted the other day that the company changed their emphasis from early earnings from DSO to "it was a good opportunity to try out the infrastructure and to rid ourselves of the waste". We should always remember that it is the job of the management to always promote the company in the most postive light and sometimes things go wrong and they must try to make a silk purse from a sow's ear. I am only supposing here but I now wonder if a big holder is not thinking along the same lines as Gindaldan and is bailing ahead of another low level CR.

 
watchlist Created with Sketch. Add GBG (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.