Thought I'd post a chart here, I hope for holder it holds support around 22.5 cents, also approaching all time lows since 2011, The trend is your friend, lower lows and lower highs, I would have looked to lower my holding around 75 cents as very bearish candle formed.
Play close attention to the support zones at all time lows, can play out the opposite to blue sky potential.
MACD D trending south, RSI trending south, Bollinger bands looking like some more downside to come.
The trend is definitely down, at what price will the project become attractive, who knows, without news I am afraid to say the lower it goes. Funding from lower levels will most likely see a larger stake taken in an equity placement etc.
The other major FA issue causing the down trend here IMO is that the finance required her is approaching a level of double the value of the company, never an attractive stance to have. Overburden making the project more costly to mine is probably also deterring investment.
Good luck holders, IMO you will need it
Chart Thread
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 (20min delay)
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Last
48.8¢ |
Change
-0.003(0.51%) |
Mkt cap ! $192.6M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 49.0¢ | 48.5¢ | $55.78K | 114.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1703 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 25178 | 3 |
View Market Depth
| Last trade - 11.46am 15/05/2024 (20 minute delay) ? |
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Last
49.0¢ |
Change
-0.003 ( 1.03 %) |
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| Open | High | Low | Volume | ||
| 49.0¢ | 49.0¢ | 49.0¢ | 5000 | ||
| Last updated 10.22am 15/05/2024 ? | |||||
| SFX (ASX) Chart |