Am long, and got slaughtered today. Very depressing. With the benefit of hindsight the massive Bearish Engulfing Bar of week 18 Feb should have been a signal, not to mention a double top, with the upper shadow of that candle rejecting the prior high (week of July 28) of $5.28. See chart below.
And if I was permitted to short (which I'm not permitted to do with CommSec), what about it?
People DO have to understand that shorting is a legitimate practice, and stop blaming them, stop blaming anyone (unless there is obvious evidence of corporate malfeasance).
Blaming others for financial loss is not a useful practice, but is endemic to many HC users, day after day, week after week, year after. I've seen it since 2015.
Which is one reason I left the site a couple of years ago.
Oversold?
At this point technical analysis is useless, except for one thing - you have to respect a massive red bar like the one of this week (which is almost complete, the week, that is). This is not a "flesh wound", from which there will be an immediate "V-shaped" recovery.
This fall is based on fundamentals, business practices which have failed (if anyone bothered to read the Announcement).
As I said before, there may be a DCB on Monday, or later in the week, or there may not. If so, depending on where folks got in, it's a chance to get out with reduced paper losses.
Anyone who is badly underwater - as I am - has to understand they are now in defensive mode.
It's no longer a matter of how much you can make, but can you loses less. The pain will still be great, but perhaps less than it is at the time of writing.
SBM - WEEKLY
- Forums
- ASX - By Stock
- SBM
- Ann: Gwalia Mass Extraction Feasibility Study, Guidance & webcast
Ann: Gwalia Mass Extraction Feasibility Study, Guidance & webcast, page-81
-
- There are more pages in this discussion • 218 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
NEWS
Antler Copper Project hits major permitting milestone – air quality permit advances to final review
Add SBM (ASX) to my watchlist
(20min delay)
|
|||||
Last
33.5¢ |
Change
0.005(1.52%) |
Mkt cap ! $274.1M |
Open | High | Low | Value | Volume |
33.0¢ | 34.0¢ | 32.0¢ | $1.179M | 3.570M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 103017 | 33.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
34.0¢ | 745273 | 22 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 60 | 0.330 |
2 | 146000 | 0.325 |
3 | 55701 | 0.320 |
3 | 541714 | 0.315 |
6 | 138871 | 0.310 |
Price($) | Vol. | No. |
---|---|---|
0.340 | 504908 | 14 |
0.345 | 969105 | 2 |
0.350 | 23000 | 2 |
0.355 | 137606 | 4 |
0.360 | 168866 | 8 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
Featured News
NEWS
Breakthrough programs slash healthcare events, driving a significant A$1.8M+ annual revenue boost
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries
SBM (ASX) Chart |