I think MUFG are facilitating index tracking fund to buying in...

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stevenlala

450 Posts.

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08/10/19

16:33

Post #: 40777575
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Originally posted by MIStragic: ↑

On the 30th Sept, I posted a kindergarten tech analysis and proposed that if the POG held up then 90c support should hold, but if the POG retraced then 84c would become key support. Despite a small retraction in the US$ POG and the A$POG remaining above $2200 (hyper profit zone for most producers) SLR is struggling to establish 90c as firm support. The number of shares sold in the 30minutes before 4pm at 90c was remarkable, so I suppose that the close at 90.5c is tentative support, but could merely mean intraday short covering. I wonder if a lot of this selling is rebalancing ahead of SLR being demoted form the SX 200?. Although I have changed my sentiment to Buy, I have not started buying .... a disappointing quarterly (+ continued POG retracement) would send SLR's SP towards 80c ?? Perhaps I should change my sentiment to a "hold" ?
Still waiting for some current SLR broker updates .... doesn't any one following SLR have a broker who can give them research ?? If RED have 3 analysts covering them then SLR must have double that number ..... Comsec published below .... but the market is not listening.

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I think MUFG are facilitating index tracking fund to buying in this stock and they mis-predict the weights in some index. They bought more shares than these fund need.

SLR Price at posting: 90.5¢ Sentiment: Buy Disclosure: Held
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