I think there has been certainly a lot of hot air pumped behind the stock, I'm currently down, as most here are likely to be too.
It doesn't really concern me too much though. They're trying to build a mid sized mining company here, these set backs happen, especially during such a volatile time.
My plan was to hold until the end of 2021 at least to see where this company is going. That mentality hasn't changed.
I won't lie, it certainly sucks seeing the current SP position.
However, if we all can zoom out for a moment and actually analyse this stock from a macro point of view, what I am seeing is people panic selling before any real results have been released. Furthermore, gold looks very likely to continue its run or at least stabilise at these high prices as a 'new normal'.
The Tick Hill mining permit pushed the price of CNB to the mid 40s when it was announced. After that point, the only release has been the AC results, and as we all know, these results are typically used to identify gold targets - which they were successful in doing.
I'm no expert on TA, but I'd argue that CNB is surely oversold at this point.
If the RC results are bad, that's when we should panic.
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Last
52.0¢ |
Change
-0.005(0.95%) |
Mkt cap ! $89.40M |
Open | High | Low | Value | Volume |
52.5¢ | 53.5¢ | 51.5¢ | $65.86K | 125.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1533 | 52.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
53.0¢ | 35000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1533 | 0.520 |
1 | 2652 | 0.515 |
3 | 14000 | 0.510 |
1 | 7000 | 0.505 |
2 | 11000 | 0.500 |
Price($) | Vol. | No. |
---|---|---|
0.535 | 50000 | 1 |
0.540 | 42668 | 4 |
0.545 | 5504 | 1 |
0.550 | 7907 | 2 |
0.555 | 600 | 1 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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CNB (ASX) Chart |