GXY (ASX) Chart

Originally posted by Metalduster ↑

A lot of guesswork goes into picking exact points for any turnaround in any stock which is out of the small shareholders hands. Prices are manipulated to take the small investors money.

Anyone can come up with an argument to state a case why the shareprice of GXY should turn upwards. atm Gaps are to the forefront with GXY's shareprice discussions. It may move off the point but be shortlived and the downward movement of the shareprice resumes with the sucked in buyers at the gap point selling, pushing it down further.????????

I'm not a great chart fan and only look at them to see highs and lows and strong support/resistance points.

I see a double bottom around 1.50 is in place so that is the dominant point atm with the shareprice retreating. Overall ideally, as a new shareholder, I want a higher low at some point above the double bottom to add to my shares and justify my belief in the lithium story/sector and GXY's potential to be a main player(one of) going forward.

I'm not into the Climate Change s#it and hadn't really looked at GXY previously until about 4-6 weeks ago because I now believe the solar/battery story is at the point of no return and will be the future. EV are a givern and the I.C. cars are gone.

Anyway back to the shareprice and where its at, atm there will be much interest in buying down to the double bottom from here as this stock is one of the most discussed on here.

I see two price ranges which I hope contain the point that gives a higher low or triple bottom for long term shareholders.

the first, where the shareprice is trading atm, 2.16 - 1.81
the second 1.81 - 1.50

breakdown the two end points into fibs and that will give you minute trading points. Thats whats dominating the GXY shareprice atm (the short/day traders)

Now where is the most logical point for a turnaround if I am anywhere close to being able to guess what will be.

I say ideally the higher low should be around/down to the 1.81 mark. Thats my point which I'm throwing into the guessing game about the shareprice in this thread. (GXY Chart)

But I maybe way off the mark and totally wrong as the Market is not like it was and T/A can be seen in many lights and does not totally dictate the price movements imo. The short term traders totally dominate now.

but

The Battery/ Lithium story is set in stone now imo and I hope GXY is the frontrunner to capitalise on it. My understanding is they are.

Remember I 'm just throwing my hat in the ring here and take the above with a grain of salt.

Interesting times ahead

Good luck all

Md

Expand

Still downtrending but still within the 1.81-2.16 range

atm 1.895 is resistance 1.845 is support. Right at this time, now. imo

Will it consolidate around here?

Stay tuned.

Md

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