Just looking at the MOY chart. Fundamentally the company seems very strong and I, like many others, am interested in taking a position. Albeit, the short term pullback in AUD gold price may induce some profit taking today. Who knows. The chart patterns on this stock may not continue to ring true given the vast upside that positive cash flow provides to a company like this.
However, charts are what they are. Support on the charts and the depth table seems to be around 17.5/18 cents. Squiggly line wise, there is a shooting star candlestick and a few gaps here and there. Previously when the stochastics have topped out along with RSI it has been followed by a pullback.
So I'm looking at it closely - I see some people are keen on the 20 cent gap being filled albeit there is a big group of buys at 18 cents.
The hedging of the company's rest of year production 40/50% at reasonably high prices may mean that changes in the AUD price of gold aren't so important in the mid term, but still, I am watching MOY closely.
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