Excellent setup for SBM today.
Gold in USD and AUD holding strong ($1303 and $1819 respectively) plus the GDX and GDXJ up again (1.3% and 2.2% respectively) after a great session on Friday (both up ~3.5%).
Additionally, we've got a monster inside candle from Friday which may mean a reversal of this month long down trend... depending on which chart you look at. While we closed below our open on Friday, we opened and closed above the previous close so the solid candles show red but the hollow candles show green. I do think it's indicative of a bullish reversal but others may disagree. And the bounce off the 50EMA / 450 mark is very helpful as well.
IMO we may see 470 as soon as today (high probability) and if the POG holds up, we may hit news highs in the coming weeks.
This company is in very good shape and is producing a shite load of free cash - which is projected to increase - so the fundamentals are strong, the technicals are strong and the valuations are weak. Strong buy for LT hold and ST trade.
DYOR.
why down 3.8% today( $4.27) ???, page-57
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Last
21.0¢ |
Change
0.005(2.44%) |
Mkt cap ! $171.7M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 21.5¢ | 20.5¢ | $384.4K | 1.824M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 102500 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 312884 | 5 |
View Market Depth
| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| SBM (ASX) Chart |