BCN 0.00% 2.6¢ beacon minerals limited

closing the gap?

  1. 412 Posts.
    I was heavily critisised a few days ago for pointing out a few obvious similarities in BCN sp movements after strong runs. Yesterday, I was kind of thinking to myself maybe the critisism was justified, and I was wrong thinking it would retrace. And then today's ann came. Whatever you guys say the results are BAD, at least for now. 1 g/ton among mining community is commonly referred to as a dirt. FML was going to use their left over 1g ore just to test run the new mill. Stuff has to be at least 3g/ton to be called ORE. So todays reaction is not surprising. People who jumped in on a Eurica report thing were getting out. 115mil traded. That was almost the amount which went in 4 days ago. After todays action it is almost impossible for BCN not to close the gap to 2.4c. The company is still good and I like it and trade it all the time. Just maybe it's not its time yet to shine. I don't know. we'll see in a few days time. But if after a day like this it doesn't go on and close the gap, then all the charting books and systems are wrong. I still believe in charting, suported by fundamentals.
    To give you an example, if today's ann had grades above 1-2g on average, BCN would have beed 4c today. Maybe they were drilling in the wrong spots or not deep enough. I don't know. They run the company and drills. I only buy and sell their shares. I reckon, if it goes to 2.4-2.5 it's definate buy. Above that, maybe too, could be a bit risky but, Today's momentum will have to take its course pushing it a bit more down. Too many people are losing money and will want to get out.
 
watchlist Created with Sketch. Add BCN (ASX) to my watchlist
(20min delay)
Last
2.6¢
Change
0.000(0.00%)
Mkt cap ! $97.67M
Open High Low Value Volume
2.6¢ 2.6¢ 2.5¢ $55.65K 2.217M

Buyers (Bids)

No. Vol. Price($)
2 562365 2.5¢
 

Sellers (Offers)

Price($) Vol. No.
2.6¢ 229630 2
View Market Depth
Last trade - 16.10pm 16/07/2024 (20 minute delay) ?
BCN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.