GXY 0.00% $5.28 galaxy resources limited

That's great news @tutor Yes definitely something is up. Can...

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  1. 974 Posts.
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    That's great news @tutor Yes definitely something is up. Can feel it in the trades and share action.

    As first spotted by @ozfirstlady with the unusual starting time for the conference call, I think we have finally a year after it being warned, have come to the stage where we need to be careful of what side of the trade we are on. Just looking at price and volume action, what is happening with A40 and what is still to come it feels like big moves are in play.

    If we look at the shorting graph its going up, but price is not really moving down at all.
    https://hotcopper.com.au/data/attachments/1703/1703995-315009fa25c825990f86f5f8edff367e.jpg
    We appear to be forming a consistent sideways trend. If we look at some other resource stocks

    BHP went sideways for about 3months before the major uplift.
    FMG was about 5 months sideways
    STO was about 2 months
    and GXY we are about 2 months in AND we are at the bottom of the wedge. So really it could be any time now.
    https://hotcopper.com.au/data/attachments/1704/1704014-6d2a03152198f4ed35ac54d9ac71d759.jpg
    Really at this stage I wouldn't be surprised if a major was secretly trying to accumulate. I believe they think they are on to something and I think they are right.

    It is going to be a very interesting 48hours. We may finally have the catalyst to change our direction.

    Hopefully it will be time for some final little purchases, before the tide changes. I have been a little bit short term pessimistic of late, but I am growing in confidence now that the short term problems may soon be behind us.

    All speculation, but that is why we all need to do our own research.
 
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