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$5.28 galaxy resources limited

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Cadel

1,455 Posts.

1257

06/10/17

08:30

Post #: 27701673
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Originally posted by savvyinvestor ↑

i agree it has run hard and needs time to consolidate after a big move up on positive rumours plus solid industry announcements (PLS great wall deal and Chinese govt phasing out ICE cars over next 15 years). in the absence of an announcement.

i think it will have a pullback next week, but who knows when the announcement will come and if it does there will be a 10-15% gap up so will miss most of the gains if taking profits now and planning to jump back in 20-30c lower.

Im happy to ride this until we get the quarterly and/ or an announcement because it think there is easily upside to previous 3.50 highs from here on the next leg up.

my price target is 3.50 for taking some profits aiming for an 80% gain in a few months, then 5.00 for longer term play. if the announcement comes in before it hits 3.50 then i may have to adjust this upwards, so i haven't set any conditional orders here.

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Galaxy's Frankfurt stock LK9 ended at $3.20 Aussie.

Will be interesting to see if we can match it. But it is Galaxy Friday so maybe can beat it.

GXY Price at posting: $3.06 Sentiment: Buy Disclosure: Held
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