CHN 1.79% $1.14 chalice mining limited

I just bought back in today, and thought I’d share why. I’m...

  1. 576 Posts.
    lightbulb Created with Sketch. 158
    I just bought back in today, and thought I’d share why. I’m thinking we seem to have stabilised now after the downtrend. It’s dropping out of the ASX200 on Monday, which I think explains much of the recent selling, and now it’s definitely out I reckon that drop’s already priced in. I reckon any manipulators now have a strong incentive to push it back in if they can (so I suspect they’ll try). With revenue coming at earliest in 2029, I’m expecting a lot of volatility in the interim, which I think is backed up by the high short positions - so I don’t think shorting is a sign that people think it’s overvalued, I think it’s used as a hedge on long positions, which enables people to take advantage of price swings more easily without raising signals - so it’s a sign people expect wild volatility ahead, and from where we are now, a wild upswing looks like it would be bigger than any wild downswing. Plus the scoping study and pending drill results could fuel a surge. So that’s why I bought in.
 
watchlist Created with Sketch. Add CHN (ASX) to my watchlist
(20min delay)
Last
$1.14
Change
0.020(1.79%)
Mkt cap ! $441.4M
Open High Low Value Volume
$1.12 $1.15 $1.12 $3.158M 2.794M

Buyers (Bids)

No. Vol. Price($)
1 10000 $1.13
 

Sellers (Offers)

Price($) Vol. No.
$1.14 20306 2
View Market Depth
Last trade - 16.10pm 03/05/2024 (20 minute delay) ?
Last
$1.14
  Change
0.020 ( 1.79 %)
Open High Low Volume
$1.12 $1.15 $1.12 762588
Last updated 16.09pm 03/05/2024 ?
CHN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.