Hey Surges,
I'm unclear on your entry level with that diamond play and understand you're holding in case of any news driven movement, and respect your fundamental investment/trading point of view.
In my own standpoint though, I can only do things from a TA perspective. I therefore am committed in eliminating any emotions to external forces outside the scope of charting. (ie. speculation over the timing of the news release, quality of the content, delays etc..) My trading techniques are based upon risk reduction/profit maximization, and therefore I have missed them before and will miss them again, but I will always be around till I get it lol...
In my view of the SP movement of that coy, it will fail to surpass the mid/high 4's without news or without good news. (should there be a spike up that is)
At this point in time, it will only capture my attention when it's near the point of equilibrium. (around three cents or so me thinks)
As for obj, if I can get in at 2.2 it would be great risk/profit wise. Otherwise will consider a position post breakout (which could be any time now). But yes, generally it?s ok to get in sub 2.5 if you don?t care about a few increments.
Incidentally, breaking out of the current trend will require a minimum closing value of around 2.6/2.7 at this point in time imo.
"the US uranium miner" Sorry Surges, not sure which specific company you mean?
All the best with the sister coy btw Surges.
Me trying to re-enter at ten if I can get it. It's an easy round number to work with lol.
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