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22/02/20
15:15
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Originally posted by Kaeho:
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Alb and Sqm released similar news but still went up after market and broke through a ST trading pattern. That was the indication GXY was going to follow through regardless of the content as its been priced in. This actually means we are at bottom basement prices and those shorting or selling the negative hype or those waiting on sidelines decided this is probably as undervalued as it can get plus abit of fomo from the overseas rally. I honestly though friday was going to end green but expected a tree shake on open which didnt happen. We have been tracking about 90% of SQM’s sp movement, so very likely we shud head towards 1.50 range which is where SQM is at currently.....June levels.
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Big ups to you Kaeho, You are on the money, Asx also has had a nice run and I think there will be some profit taking and moving over to the beaten down stocks in oversold territory.