Unfortunately I dont know the answer mate? I wish I knew. I see the biggest risk for AWC is market sentiment in general.....miners have failed to participate in any rally of late only selected stocks like banks and CSL and look at CBA? which I am ready to short.
Just imagine if market correct itself miners which are already underperformed will get smashed harder.
What I personally see is AWC trying to take 1 dollar back and so far failed but holding just under 1 dollar indicated that sooner rahter than later it will break 1 dollar and stay above 1 dollar and this is depending so mauch on so many things but market have to keep moving up or stable. I looks that if they can retake 1 dollar and make it a support than the next level will be back around 1.20s
I have added a small parcel everytime it drops and may take much bigger position if or when it holds above 1 strongly as I believe 1.40 will be retaken also.
To see world market still moving nicely and being bought everytime it drops makes me think that unless there is really bad news there are nough buyers and money out there waiting to enter market.....again US market still have so much weight in traders mind and last night was a perfect picture of how traders sentiment change.
If market continue to perform and one will never know the next news from China may be enough to trigger AWC to move back above 1.....
Nothing sure mate and risk sometimes have to be taken but you are the one that can make that decision as only you know your capital and strategy and your risk appetite.
Cheers,
AWC Price at posting:
99.0¢ Sentiment: Buy Disclosure: Held
