I agree totally. Punters were ahead and while gold is hardly affected and macro factors still support gold, weak hands sell on the basis of a ridiculous broker target (downgrade).
Re the downgrade, which I believe is $6.70, isn't it interesting that technically there is a gap at $6.73. Right at the start of the run up! So how much is the broker downgrade based on analysis, and how much is it based on a TA mark!
An acquaintance I knew worked in a major broker firm and he said that before they advise a significant change (upgrade/downgrade), they have already altered their positions. So it really looks like selling prior to the downgrade, to acquire a far greater holding through a downgrade based on a technical position on a chart with retail selling!!!
What's the bet that as EVN continues to approach $6.70, especially as it comes up to EOFY reporting, they issue an upgrade!!!
EVN Price at posting:
$7.54 Sentiment: Buy Disclosure: Held
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