SBM 4.65% 22.5¢ st barbara limited

blacks, if you look at the chart you will see a huge congestion...

  1. 480 Posts.
    blacks, if you look at the chart you will see a huge congestion area going back around 2 years between around 42 to 60 cents. This whole band should provide solid support. In the absence of any bad news, any spikes down below 60 should be short-lived and provide good buying opportunities.
    Of course, if there is any good news or a big jump in the pog, it could go straight up from here.
    I don't know the company well enough to say what the likelihood of good or bad news may be, but if you have confidence in the fundamentals, it seems a reasonable buy at current levels from a risk-reward point of view.
    But it may not yet be quite at the bottom, and some of the technical indicators are weak at the moment. That's to be expected given the price weakness, and it is also true of all the gold producing midcaps I track, except DOM. The large caps are starting to move, and the juniors should follow if the POG cooperates. Good luck.
 
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Last
22.5¢
Change
0.010(4.65%)
Mkt cap ! $184.0M
Open High Low Value Volume
21.5¢ 22.8¢ 21.5¢ $385.0K 1.727M

Buyers (Bids)

No. Vol. Price($)
39 540041 22.0¢
 

Sellers (Offers)

Price($) Vol. No.
22.5¢ 669899 32
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Last trade - 15.27pm 23/07/2024 (20 minute delay) ?
SBM (ASX) Chart
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