I got into this one a few times last week, but what I saw on Friday awed me. Instead of the expected skittish sell-off in the afternoon, holders were sitting tight. That convincied me to buy in again at the end of the day. The market depth also improved with 49 m buyers to 9 m sellers.
There's not been too many posts on this one, as it just relisted, but a few of the posters are calling 20-30 c. I'm usually a great sceptic at such calls, but what happened on friday made me take a second look. An mc of 200-300 m, what would warrant that? Of the iron-ore shares on my watch list most have a market cap of this magnitude.
If this is what is going to be announced we could easily see 20c. Look at AGO, SDL, IOH etc.
My momentum trade just turned in to a long-termer.
Cheers!
CHM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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