Since myt last post, price seems to have found that level around $1.06 which is reflected in the ST low (18.8.21) High (1.7.20). The ST low I thought was key to where it literally rejected the TL break not shown from the chart but since then it printed 2 ST lower highs then we see a break today. This is what the chart is showing.
The drill results keeps coming up with gold so who the F* know why it is bearish. Way back last year, it was the SOI that I really dislike because of the vast amount of shares issued to date. At $1.5B MC, it really needs something magical to allow a significant increase in value.
@Norsdemic did a guesstimate on the Capex in the billion $ mark from memory which I understand from the refractory metallurgy. Maybe this is the reason why some here are disappointed with the rally?
I have been sitting on the sidelines since I exited DEG and only recently as last week bought another spec turn producer. BUT I do like the EVN/NST position on the chart although the XGD is not very convincing and this 2 has a big weighting.
As expected the NFP on Friday propelled gold up but met a road block resistance. TL broke last week probably in anticipation. US closed tonight so just a waiting game.
Good luck holders.
Chart - TA, page-1679
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Last
$1.22 |
Change
-0.003(0.20%) |
Mkt cap ! $2.888B | |||
| Open | High | Low | Value | Volume |
| $1.22 | $1.23 | $1.20 | $2.463M | 2.031M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 26413 | $1.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.22 | 166330 | 36 |
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| Last trade - 14.23pm 27/08/2024 (20 minute delay) ? |
| DEG (ASX) Chart |