RED 2.70% 36.0¢ red 5 limited

"another 5m shares" - well done MRRC, when are you going...

  1. 2,337 Posts.
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    "another 5m shares" - well done MRRC, when are you going "substantial" ?
    "buying a boatload around last raise" - well done Winmore.
    I only bought a couple of million extra, and sold these at 27c ... been sitting on the rest, as the chart has looked so strong. Every time my broker advises me to unload a bundle I suspect he's looking for more to pass onto his institutional clients (again).

    It should be obvious that my previous posts have been largely based on my analysis of RED's fundamentals in a positive gold environment.
    Technical analysis is not "reading tea leaves" as some contend, but analysis of what the market participants are doing, and the strength of that conviction, as manifest in price and volume that create "share charts" - an important chart analysis fundamental, is also looking at trends, both the primary (the stock) and the secondary (the commodity) - a true bull or bear market is when these trends are in sync - a turning point is when they disconnect - this point of cognitive dissonance is were the smart money time entries and exits .... a necessary precondition for such actions is adequate liquidity.
    Lack of liquidity makes technical analysis of small low liquidity stocks almost impossible, thats why they're labelled "speculative".

    An absolute is the Commodity price - its trend is the most determinative, and where the commodity goes, stocks will follow .... just look at the lithium space (and other battery metals) where SP's have been shredded .... this has only increased the outpourings of rage, conspiracy, amateur analysis and predictions on the blogs of these stocks .... when traders just exited when the stocks rolled over ... some traders are now reentering in selected stocks in good companies, that are geopolitically safe .... you know, basic combination of tech and fundamental analysis with a knowledge of market mechanics like "rebalances".

    As for how to pick entry / exit prices, just look at Nordesmic charts where he nominates "over bought zones" (possible sell) and "over sold zones" (possible buy) in stocks that he thinks have good fundamentals .....
    If you bought at 13c, then any price above 30c is a good trade, 40c even better .... choose a target and be happy ... more people have lost their life "going for the summit" than any other manoeuvre .... by all means "let your profits run" (while you cut your losses) but beware.
    In a recent interview Jim Rogers (yer he's still around) is predicting that the market crash in 2024 he's predicting (along with quite a few others) will be the worst in his lifetime - in such crashes everything gets sold off ... including gold and gold stocks.
    My hopes are that RED will remain firm in early 24, and I will lighten my load then ... how much depends on the trends, RED's performance and M&A possibilities .... but waiting for the latter may be fatal if the market crashes before hand. DYOR
 
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Last
36.0¢
Change
-0.010(2.70%)
Mkt cap ! $2.448B
Open High Low Value Volume
37.0¢ 37.8¢ 36.0¢ $9.825M 26.88M

Buyers (Bids)

No. Vol. Price($)
18 1862724 36.0¢
 

Sellers (Offers)

Price($) Vol. No.
36.5¢ 2312588 9
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Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
RED (ASX) Chart
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