All these posts about Down/Up Trend,it's going to 20,31,40.5 a $1,it's bouncing, aussie bulls says...
it's in a downtrend. yesterday just closed on the last configuration of an uptrend.
as well recent support 36 was touched and bounced to close higher.
IF support at 36 breaks the indicative lower price is 31 the next support level.
21 is the Gap Theory price possible if 31 breaks especially on volume on bad news.
What kind of bad news? Say Nicanda results not yet exceeding convincingly Cobra Plains
or of course General Market Shock.[October is a bit historical for these]
IF the downtrend is to be broken the price is 40.5+ to confirm.
probability is consolidation on 36/38 range.
Such a 36/38 consolidation will 'stock up' short term traders for any news breakout into the 40's
for a 15%++ gain near 3%/1 cent move.
Could some of the 100k# purchases be for this trade?
my personal angle is that Assay Results have not been prioritised from the drill site to the Lab
leading to scattered programme of results issue ie they find a 'hot spot' but don't release confirming drills next but
some thing from the outskirts.
Anyway the last 3 drill reports have failed to excite the market so they must in the Markets eyes be Ho Hum.
Don't want to get into a Geology Argument.
but I will comment on this proposition.
AJ has millions of shares and Millions of $$$$ in this and hasn't sold a single one.
As Chairman of TON selling a single share let alone a million of them requires a notice within 3 days.
A Notice of Sale by AJ would be a disaster for the SP , 21 gap wouldn't even hold.
Doesn't matter what reasonable reason for sale was- to pay his taxes,cover the fall in palladium prices,whatever
A Director Sell in a speccie like TON would wipe millions off the Market Cap.
Therefore that AJ holds is a pretty stupid reason for a pilgrim to hold too thru their pre determined stop loss price.
I think there are many such souls holding above 50 cents who will form very solid resistance breaking even selling that price range 45+ combining with profit taking buyers 36/40.
ergo $1 Xmas Parties?
happy trading
TON Price at posting:
37.5¢ Sentiment: None Disclosure: Not Held
