Albidon finished down 2% in London overnight.
Nickel stocks have flattened out in London being between 77,682 and 78,918t for the past nine trading sessions and between 77,8918 and 77,8804t in the last four trading sessions.
Nickel spot has recovered some of the ground from its dip to $4.9956 ending up at $5.2745 overnight.
So, after trading at around $4.25 through December it appears set to settle at $5.50 through January.
Albidon ended up at 8.7% down in Australia on Friday in fairly light trading, 844,945 shares worth $174,651. Many investors sat out the session and will probably do the same Monday, in my opinion.
The US market was down by 1.64%, London down by 1.26%, so all things being equal I would expect a similar result for the ASX on Monday. I suspect that Albidon will be lightly traded again and probably have a mixed day, up or down by around 5%.
The buy-sell ratio in the depth is currently at 2.68m shares sought, 673,773 shares offered or a ratio of 3.86:1 but the ratio around the last traded price of 21c is much closer. This indicates greater volatility close to the SP.
But with stocks flat at the LME one would expect a steady rise in the Nickel spot, especially if stocks start to fall next week. A Nickel price of $10 seems to me to be obtainable, judging by the long term price trend and with such a rise I would expect Albidon to rise to around $1.50
Just my opinion. There has been a bit of activity on the Nickel thread which may be of some interest to Albidon investors.
Robert
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Last
4.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.937M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 45555 | 4.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.5¢ | 38600 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 45555 | 0.045 |
2 | 43704 | 0.044 |
2 | 407317 | 0.041 |
1 | 200000 | 0.035 |
1 | 38499 | 0.026 |
Price($) | Vol. | No. |
---|---|---|
0.055 | 38600 | 1 |
0.079 | 38053 | 2 |
0.080 | 100000 | 1 |
0.083 | 200000 | 1 |
0.090 | 7000 | 1 |
Last trade - 16.12pm 30/08/2024 (20 minute delay) ? |
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