Share
9,282 Posts.
lightbulb Created with Sketch. 833
clock Created with Sketch.
11/03/17
14:47
Share
Originally posted by demoniaco
↑
Disappointed I stopped looking at AGO. I missed the clear potential for reversal based on Thursday's candle.
I bought in AGO on Friday at auction, perhaps I should have waited for a cheaper price on Monday. However I take note that the stock fell 40% from 5c -> 3c based on a 6.5% decline in iron ore price ($92.5/tonne -> $86/tonne).
I think it's oversold and the market is noticing that now for AGO. We could see a nice pump from 3.5c -> 4c at even a slight increase in iron ore price. A more realistic recovery is perhaps 3.5c -> 3.7c on Monday if the prices remain about the same.
I'm expecting a mutli-day recovery, so perhaps not a DT but a 2-3 day hold.
Any opinions on this or AGO?
Expand
Nice reversal @demoniaco - I stopped watching AGO after the last ore surplus and the Guvnuts at the time decided to tax miners into oblivion - might change my mind and come back. Longer term looks good too.