Your are 100% correct Jaded, the gap theorist are risking a very small move compared to what the potential upside is.
We have pulled back deep, much deeper than what i expected and a lot of this was to do with Hudson. Anybody who was invested last year will remember we had a few old shareholders who capped the price through 20-22 which was frustrating at the time. Now it seems that old Resistance is new support.
Personally i think the move is done and its worth watching the tape for when the next move up is done.
Here is a simple of chart which included the forecast cash reserves and a simple risk and reward against the EV of the company.
Remember AXE isn't just about Graphite and another "West Roxby' like deal could easily happen.
DYOR.
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Last
25.0¢ |
Change
0.010(4.17%) |
Mkt cap ! $63.71M |
Open | High | Low | Value | Volume |
25.5¢ | 26.0¢ | 24.5¢ | $76.43K | 304.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 45934 | 24.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
25.0¢ | 24067 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 45934 | 0.240 |
11 | 81048 | 0.235 |
13 | 303721 | 0.230 |
14 | 492149 | 0.225 |
11 | 151676 | 0.220 |
Price($) | Vol. | No. |
---|---|---|
0.250 | 24067 | 3 |
0.260 | 27996 | 3 |
0.265 | 38448 | 4 |
0.270 | 20000 | 1 |
0.275 | 11860 | 1 |
Last trade - 13.54pm 03/09/2024 (20 minute delay) ? |
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AXE (ASX) Chart |