“why is this stock sitting at 4.2cnts”
Very weak gold sector over the last 8-10months, big long term debt and deficit problems in Europe and the US, fear of the markets generally;
Take your pick!
ABU is doing everything right and coming up with great results. When stocks are ready to move up again, best to be in the ones with good news flow rather than bad. The good ones will move hard while the bad ones will do little or nothing.
Those issues with Europe and US are why I only invest in and trade gold stocks.
Anything else seems too risky to me.
The gold sector is the one and only sector I consider fundamentally strong.
The price of gold is in a strong long term uptrend.
The current correction has been going for at least as long as the GFC correction, after which the price more than doubled.
There are very good reasons why the gold price should rally well above $2,000 (and good reason why it should already be there).
I think this is generally a good time to be in the gold sector after such a strong correction in gold stocks.
Timing can never be perfect. Markets are weak again today.
Timing for ABU is also right from a seasonal point of view as the monthly chart clearly shows.
Lows generally occur in May or June followed by strong rallies through the exploration season.
The daily chart also shows this is a very volatile stock so you need to be prepared for a very volatile ride even when it’s trending up strongly.
Those that sold recently at 3.7 to 4c watched it rally to 4.5c yesterday.
Those that bought at 4.4-4.5 might have to watch it drop back to 4c.
Next week or the week after it might be at 5c or higher.
I expect a strong up trend but I also know I should expect a very volatile ride.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.294M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.2¢ | $972 | 391.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 7325864 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 19838689 | 19 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 7325864 | 0.002 |
10 | 98550498 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 19838689 | 19 |
0.004 | 4380859 | 7 |
0.005 | 889000 | 1 |
0.006 | 166666 | 1 |
0.016 | 4926376 | 1 |
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