Hi Guys,
I'm afraid to say but this one has been one of the most manipulative stocks recently.
I have been watching very closely the price action.
If I was sitting on decent profit, I would be taking now.
It traded down roughly 70-80 million units to take the share price from .235c to .18c
It took less than 10 million stocks trading to take the share price from .18c to .235c
It should be the other way round.
I know some hard core believers will be very upset....but that is what I see clearly.
No matter how bargain MOY looks, there are lots of bargains around the gold space at the moment.
The whole gold space is a bargain, especially the junior miners.
At times there is a sudden burst of volume swelling on the buy side.......obviously well below the actual trading zone, just so that it can't be hit. There could be a fund or two playing with the stock.
Don't get me wrong.....MOY has been one of the best winner for me....I have always liked the management but since Glen Dovaston suddenly left.....I have my doubts. I still can't find an answer why did Glen left without giving any reason. It's not that Glen was not capable of taking the company to the next level.
He nearly saved the company from bankruptcy in 2014, turned the losing operation to a decent profit making operation, payed off all the debts, grown the cash balance in-spite of spending a lot of money on drilling. When an excellent manager like him leaves abruptly.......his fans become a little sceptical.
It was never hard for me to speak to Glen........if not available on the spot he always gave a call back to me.
I haven't been able to speak to Peter after 3 attempts....always his deputy. Maybe he is too busy worrying about the future prospects of the company.
Anyway, I would be taking profits if I had, as many a times I have watched the share price rise & fall.
I am happy about gold and not happy as well.
It broke out of the long term downtrend and failed to hold for even 24 hours. That part I am wary of...should have kept surging..higher & higher.
May be
@Newbegining have some opinion on it.
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All the best and have a nice long weekend.
