Enova Mining - Charting/TA Thead - 3c target then 6.3c, page-3231

Not looking great at this stage, needs some good results.

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From a weekly perspective, surprisingly, it's still in front. Last week finished at 1, today 1.1. Oppies last week at 0.7, today 0.6.

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So what is happening? As I wrote in the morning, after checking numbers from some other Ree stocks, numbers didn't look great. That was just my observation, and I am no expert in fundamentals. The trading which happened today, was probably reflective of that. Got sold down on very big volume.

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For those reading my weekly posts, last 2 weeks I had written that late results are usually not a good indicator. Results were supposed to come in end of August. We received them today, 2 weeks late. And it again played to that probability, that late result is usually not good.

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Overall I am disappointed on how this played out. Not saying any wrong doing has been done, but there are question marks on last 2 weeks events. First result didn't come in time. There may be a valid reason. Then a very positive announcement last week. In hindsight, that now looks like a sucker announcement. There was a pump and sp increased by 125%. Many may have got sucked in as the announcement looked good. Large volume, big rise. And then the results today, which were not great. Many may have made a lot of money, don't know if it was deliberate, but gave an opportunity for those who wanted to exit, and double where the sp was. And many innocent, unfortunate punters would be ruing all their losses. Simply not good. Again not saying it was deliberate, but if it was a plan for some to exit, knowing what's coming in future, it worked out. Unfortunately, that's how the spec market plays and mostly innocent are the sufferers. Let's assume there was no announcement last week. We were heads at 0.8 and oppies 0.5. If we had got this announcement today, where would have been the sp? And how would some escape the downturn? So lots of question marks. It's for each to decide for themselves what they make out of it. This is what I thought. I could be completely wrong.

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Is there anything positive? Yes, the results were not dusters, so hope is still there. Also a lot of results are pending, so things could change. Hopefully.

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Personally I am out for now. 2 weeks back, I wrote that I don't like that the results are not yet there. I sold around 20% with 20% loss, I wrote that. Last week again I sold 20%, but that was break even, I wrote that last week. This week I had got out 40% before today on the rally with 50% gain on that. I got out 10% today on 30% gain. So overall I was ahead by 20%. If I had not sold last 2 weeks, I could have made 50%, but I didn't know there is a cunning plan. I have been holding for several months, first bought in mid to high 1s, was always down, had averaged down, which I usually don't like, so was uncomfortable, and hence was getting out last 3 weeks. I will now wait to see when to enter, either news or some price action.

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So what may next week? I think it will be news driven, but after seeing what happened this week, another episode of big jump cannot be ruled out. I wish everyone well. I have been writing here for several months, so understand the sentiment, posters etc. Not all is lost. One great announcement could change the whole game. Let's hope it plays out that way. Enjoy your weekend and all the best.