Thank you @madbutcher for sharing your thoughts. I agree that this time CTM has a better chance to break the pattern upwards, considering Nickel industry is getting more and more attention. Further to the news I've mentioned about IGO's offer to PAN, last night there was some noise in international space too. Norilsk Nickel, which I think is the 2nd largest Nickel producer in the world, is raising $700mil USD through bonds, and there were speculations that part of the proceeds would go into buying London exchange based Nickel player AMC which is an explorer in Russia. This resulted in AMC shooting up by 55% in one day. Not related directly to CTM, but as I mentioned when M&A activity starts in a tight supply market, usually there are followup activities, and will boost the sector as a whole.
CTM's association with Vale and the current off-take (which is still loose and at arms length) should get some more attention if we get good grades during drilling. The difference this time around IMO is the instos on-board who gave some confidence to the market that there is money to be made in CTM with the drilling program. Further, 1.6c was cleared by large orders on Mon, which means deeper pockets and I assume they don't want to just breakeven at 1.6c, so there would be an attempt to break that wall at 1.7c and move this further. When that will happen, I have no clue, may be off the back of news, or could be random as how a huge wall at 1c was taken out in a flash on a Friday afternoon few months ago. Who knows
This could very well end up as fluff and what I am seeing probably is positive bias, but that's true with any stock and any chart isn't it If we can accurately predict the future, we all can be millionaires!
Fingers crossed and hoping for some visuals to keep the momentum going, which is as important as the chart's trend.
All IMO, and thanks again for sharing your views on the charts mate, good to learn some TA!
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Last
41.5¢ |
Change
0.005(1.22%) |
Mkt cap ! $207.8M |
Open | High | Low | Value | Volume |
40.0¢ | 43.0¢ | 40.0¢ | $524.2K | 1.273M |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 21225 | 41.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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42.0¢ | 7410 | 6 |
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No. | Vol. | Price($) |
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2 | 21225 | 0.410 |
2 | 10354 | 0.405 |
7 | 240110 | 0.400 |
1 | 10126 | 0.395 |
3 | 92161 | 0.390 |
Price($) | Vol. | No. |
---|---|---|
0.420 | 7410 | 6 |
0.425 | 8160 | 2 |
0.430 | 4100 | 2 |
0.435 | 32212 | 2 |
0.440 | 127886 | 2 |
Last trade - 12.29pm 14/05/2024 (20 minute delay) ? |
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