29M 2.35% 43.5¢ 29metals limited

There's a gap sitting between 41 and 43 since the 14th. I...

  1. 212 Posts.
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    There's a gap sitting between 41 and 43 since the 14th. I haven't seen a 29M gap left open yet..but I've only been here a couple years.

    I've been trading it since last year to bring my average down - yes, I got caught above $1.80 before it all turned to mush. My average is now much better but still a paper loss.

    My thoughts is 29M will be back on track and I'm bullish copper so if a few things go well for management and we solve our issues then we'll be back on track and fingers crossed in perfect time for copper run. TBH, it's a very hard one try pick the bottom, every time I've tried, it's done what I wasn't prepared for. EG, when we were down at 20, I placed a sell order at 77 about a week before it ran..the morning it ran, I thought woo hoo we're back baby..so I pulled the order. Guess you know how that panned out.

    One thing that gives me confidence is our large SH still willing to support and buy. I don't have the resources or information to do the research they do.

    Anyhoo. If you think 29M has a future, my suggestion is buy small parcels and average - unless you're also trading in which case you know the deal.

    Good luck with your investment/trading mate. and a little chart to show the gap.
    https://hotcopper.com.au/data/attachments/6039/6039321-0195ffe476004d0a436f35e7ccbade0b.jpg



 
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