Another tired old argument posted here is;
If this was so good then why is it at 4c?
Looking at the chart, there is a counter argument;
Perhaps the market is wrong right now and they were right when this was at 5c, 6c, 7c or 8c.
The average price over the last year is around 5.5c.
If the market is right most of the time perhaps this is worth more like 5.5 rather than 4.2?
I don’t buy that argument at all though. Stocks go from heavily overbought levels to heavily oversold, so to ask why a stock is at a particular price at any given time is a very flawed argument.
Despite claims to the contrary this morning, ABU is performing very well relatively speaking.
There are many explorers down more like 80% or more having broken long term up trend lines.
AZM, GOR etc.
ABU is only down 50% which is more in line with large producers such as NCM and AQG.
ABU unlike NCM is holding nicely above its three year uptrend line.
It also has formed a good uptrend since the May low.
It could break out of that at any time and enter a steeper uptrend more like what it has typically done over the last few years.
My guess is that would be triggered by the gold price breaking out and moving higher more quickly.
For now steep or shallow, the trend in ABU is up and has been up for 3 months on a short term chart and for three years on the long term chart.
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.235M |
Open | High | Low | Value | Volume |
0.2¢ | 0.2¢ | 0.2¢ | $3.177K | 1.588M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 81872432 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.2¢ | 448437 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
18 | 81872432 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.002 | 448437 | 1 |
0.003 | 21320689 | 21 |
0.004 | 6180859 | 8 |
0.005 | 889000 | 1 |
0.006 | 166666 | 1 |
Last trade - 15.38pm 02/09/2024 (20 minute delay) ? |
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