Agreed, this will be a good one to sit on for a couple of years, just need to work out the best buy in price now.
At the bottom end, I remember reading Andrew Forest and his men got to buy in at 40c after the consolidation of shares (4th july) which was decided when the price was 48c (in post consolidation value) back on the 4/4.
At the top end, the ASX queried NIA on their price rise on the 20/4/07 when the price was $1.50 (post consolidation value) and NIA reported back to the ASX that they could not explain why the price had gone to where it was. Which shows that the market had already over valued this stock back then.
I think its quite safe to say the market will continue to erode away the sp till below $1.50 but how much lower will it go?
looking at the buy depth there will be some resistance tomorrow at $1.70 once we break through that there isn’t much in the way now for it to tumble again, Does anyone else have any realistic price targets on where rock bottom might be to buy back in?
Buy Depth
No. Volume Price
1 27,962 1.72
9 121,376 1.70
1 10,000 1.68
2 6,200 1.66
1 8,000 1.62
4 26,315 1.60
1 10,000 1.58
1 10,000 1.55
3 45,000 1.50
1 1,100 1.30
1 20,000 1.25
1 10,000 1.00
NIA
niagara mining limited
