Australia's largest stock trading and investment forum Australia's #1 stock forum

GXY

Click for more information

0.00%

$5.28 galaxy resources limited

Chart, page-5557

First 5557 Last

Share
Profile

Follow
Subs

4,845 Posts.

1558

19/01/18

15:39

Post #: 30421186
Share

Originally posted by ProCapitalism ↑

Long term we are trading inside a parallel channel so we could trade down to the trend line at the $2.50 mark over the next 6 months.

GXY is a solid company, for that reason I think it will be a sideways market (lots of up & down weeks) for the next 6 months at least & trading between $3 & $4. That's where the Tenkan Sen is. Consolidation periods are needed before the next move up. No SP starts trading at $0.01 & moves in a straight line up to $4.60 regardless of how profitable the company is.

The retracement will bring our SP back into equilibrium, allow new buyers to enter the market & then we can move up to the $6 mark or higher.

View attachment 929212

Expand

"The retracement will bring our SP back into equilibrium, allow new buyers to enter the market & then we can move up to the $6 mark or higher."

And will allow ProCapitalism to buy back his shares...

GXY Price at posting: $3.54 Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

RBA holds rates as ALP election campaigning kicks off – expect more political focus

HVN

Harvey Norman may appeal ASIC Federal Court case – the third lawsuit on its plate

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

'We're looking': Nickel-rich Indonesia sounds graphite warning to Aus producers

There are more pages in this discussion • 17,910 more messages in this thread...

First 5557 Last

Add GXY (ASX) to my watchlist