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29M

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8.78%

40.3¢ 29metals limited

Brokers are betting on the insurance payout being knocked back.

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kingkwce

364 Posts.

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25/05/23

21:47

Post #: 67969235
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Originally posted by stevo123: ↑

Several Brokers yesterday had sells on 29M, and the market expects the company will need to do a capital raising, so the shorters
are having a party.
Production numbers looked ordinary so unfortunately the market is crushing the share price.
I don't know where the floor is on this stock, and when a stock is on freefall its best to stay out and on the sidelines.
There will definately be a bounce, but caution on catching falling knives, its a destructive way of losing capital quickly.
I think 29M will be a buy at some stage, but until they raise money, and quickly, the shorters at this low sentiment will drive the price lower.
Caution is the best policy, I lost thousands years ago on a stock called Atlas Iron - AGO was a darling at $4 and crashed to 4 cents.....Unfortunately
the market is too bearish at moment on 29M
Good luck to all, Brokers are seeking a capital raising so I will wait until that occurs before dipping into 29M, just my opinion.

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Brokers are betting on the insurance payout being knocked back.

29M Price at posting: 64.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 40.3¢		Change 0.033(8.78%)		Mkt cap ! $277.2M

Open	High	Low	Value	Volume
37.5¢	40.8¢	37.0¢	$827.6K	2.146M

Buyers (Bids)

No.	Vol.	Price($)
11	120172	40.0¢

Sellers (Offers)

Price($)	Vol.	No.
40.5¢	48792	24

View Market Depth

No.	Vol.	Price($)
9	108574	0.400
16	68111	0.395
8	83262	0.390
4	45631	0.385
4	114300	0.380

Price($)	Vol.	No.
0.405	47526	22
0.410	86423	8
0.415	77549	6
0.420	95567	6
0.430	39632	5

Last trade - 15.30pm 31/07/2024 (20 minute delay)

29M (ASX) Chart