Stock prices over the last 3 Months of a basket of different companies with various IO exposure. Percentages are eye balled approximates of my e-trade charts.
Gindalbie Metals GBG -45% BC Iron BCI -15% Western Desert Resources WDR -5% Jupiter Mines JMS 0% Iron Ore Holdings IOH -35% Centaurus Metals CTM -50% Crusader Resources CAS -25% Grange Resources Limited GRR -40% Atlas Iron Limited AGO -50% Mount Gibson Iron Limited MGX -45% Fortescue Metals Group Ltd FMG -30% BHP BHP -15% RIO RIO -25%
Based on wider market performance (say down 40%) stock might very well retest the old 15c resistance.
Commodity weakness with slow data out of China, but dollar coming down so might partially offset. Upside with exploration and increase production at low costs is good. Downside is the management/JV crap that has gone on.
IMO, open down to bring the stock inline with market performance, but should have OK mid-longer term prospects if management and partners can prove themselves.
PLV Price at posting:
20.7¢ Sentiment: None Disclosure: Held
