Howdy Folks !
Firstly, I thought that a change of thread title might be in order here !
Worst stock ever???? ... not too inspiring really ... is it ?
Unfortunately for those still holding , the events since I started following this stock have pretty well unfolded as I predicted { almost text book fashion }. Down to 7c ?
However , I have also been following the progress of numerous other companies undergoing capital raisings and have found the results unfolding in similar fashion.
MY PLAN is always { as I have stated in previous posts } Sell first and ask questions later ! Which is excactly what I have just recently had to do with 2 of my other holdings. Nursing a large loss is far more painful than missing out on some profit I think.
SO
Have we reached the bottom ?
Certainly , the sentiment cant get any worse than it already is, surely ?
An interesting question I have is...
Has the price action {ie chart} preceeded the fundamentals of TMR and valued it correctly ?
or
Has the market overreacted and priced it way too low and hence the price will eventually go higher to catch up to the fundamentals ?
Some input here from someone would be useful !
I have done NO F.A. on this other than what has been posted here on hotcopper. {intentionally}
Picking a bottom in a strong downtrend is not a recommended practice and I have learned that the hard way.
Trends tend to persist far longer than most ppl expect so the logic here would be to wait for the trend to change !
But what the hec, let's have a go anyway !
MY feeling is that most ppl who felt cheated by mgmt, had magin calls, stop losses triggered {or is that stop looses} or just paniced, have most likely already sold out,{commonly known as the final blow off} hence opening the door for a price reversal.
The chart is also looking interesting in that it could be interpreted as the excact half way point of a reverse Head and Shoulders pattern with a possible neckline forming at 14.5c.
DOES ANYONE see that ?
A bit of a GAMBLE I know , but could be worth a PUNT .... 8c to 14.5c = 80%
MY STOP LOSS would be set at....... well I wont divulge that in case someone tries to stop me out on purpose.
But it will be tight and it will be acted on if breached !
STAY TUNED for the next exciting episode of How to lose your money methodically.... Coming Soon ! Right here on HC
Good Luck to all !
The chart also
- Forums
- ASX - By Stock
- SMM
- have we reached the bottom yet
have we reached the bottom yet
-
- There are more pages in this discussion • 57 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
Add SMM (ASX) to my watchlist
|
|||||
Last
0.4¢ |
Change
-0.001(20.0%) |
Mkt cap ! $4.123M |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.4¢ | $18.42K | 4.606M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 6634995 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 550000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 6634995 | 0.003 |
24 | 18010500 | 0.002 |
17 | 43300702 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 550000 | 2 |
0.005 | 11253891 | 15 |
0.006 | 4359766 | 7 |
0.007 | 3478571 | 5 |
0.008 | 1000000 | 1 |
Last trade - 14.21pm 27/08/2024 (20 minute delay) ? |
Featured News
SMM (ASX) Chart |
The Watchlist
SBW
SHEKEL BRAINWEIGH LTD
Dani Nadri, Country Manager Australia
Dani Nadri
Country Manager Australia
SPONSORED BY The Market Online