Lol - we all have that kind of "friend" as we all know a few of them because they have many employees! So nothing special. Most audits are usually a box ticking exercises.... If your mate's pick is GXY, then the first thing is: Did he put his $$ where his mouth is? and 2nd: Is he making money? If there's a NO, then that's nothing special...
Even a few broker analysts had a BUY, which all well above $2.20+ at least. We are all here to make $$,
SP has been in decline for almost 7 months now since beginning of this year. If SP can't be defended against shorters and broker reports like DB and MacBank, then perhaps GXY is pretty weak in its defences or maybe there is something most retailers don't know but instos do....
I guess SP really does follow fundamentals over time.
Sentiment: SELL, SELL, SELL = which is why its' been declining for so long now.
Good luck with your trades.. Stop loss is a very good tool to protect capital. I know most holders here are under water, some with substantial loss...let's see if $1.80s in the realm of possibility in the new week.., and then $1.50s or $1.60s towards end of this month, following the usual SP decline per each GXY's shipment. This may test you.. and you may be eaten or come out alive..for me, I just avoid the sharks with my stop loss.
At the end of the day, it's about making profits.
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