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15:57
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Originally posted by PresidentofAUS
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My statement is based on technical analysis your viewpoint is based on fundamental analysis. PRICE Pays not opinion on what fair value SHOULD be. It's unfortunate I know but the reality is the stock is in a downtrend. Any others that work with technical analysis will happily tell you a full retrace is not unusual and for AJX that to me looks to be 8-12cents. It also takes into consideration the current unsure state of the ASX which is doing no favours currently for any stocks. Low projections aren't taking pot shots at the company. I'll leave the fundamentalists to tell me how the company should be valued but I'll check my portfolio value to see how it IS being valued. I think in the long term sure this company is undervalued but that doesnt mean it won't go lower still. I don't think it's fair to FOMO people with imminent news promises that will shoot the stock back up thats unrealistic that that's what will happen. You must recognise the bias you harbour before it blinds you and everyone behind those rose coloured glasses. You need the stock to go up cause you hold it and the possibility of it more than halving here rightly seems damning. Doesn't mean it's unlikely. I hope the company has good results and it one day reflects in the share price again. But there's no point jumping the gun. Even if it goes up 10% in one day on news I'll wait for a confirmation and proper technical set up that gives me a defined stop. Right now people buying are guessing the bottom and the stops are down in the depths of oblivion. That's a dangerous sport that will kill your account and take you out of the game for good. Risk management 101. Hope that helps.
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What technical analysis did you use PresidentofAUS? Many tend to just pick a figure out of their behind and give technical analysis as their reasoning. Maybe that is not the case with you but you didn't provide any technical commentary to back up your prediction so you can't blame people for being dubious.
