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.
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Last
2.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $97.67M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 192300 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.6¢ | 2658146 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 192300 | 0.026 |
1 | 500000 | 0.025 |
6 | 240520 | 0.023 |
9 | 3630016 | 0.022 |
4 | 575047 | 0.021 |
Price($) | Vol. | No. |
---|---|---|
0.026 | 2658146 | 6 |
0.027 | 431000 | 3 |
0.028 | 3020000 | 2 |
0.030 | 2743004 | 3 |
0.031 | 775139 | 1 |
Last trade - 16.13pm 17/09/2024 (20 minute delay) ? |
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