I agree with you, Snakeye.
The market hardly ever prices companies on fundamentals, it is more on 'fear and greed', BUT as individuals, I think it is important to use fundamentals as a starting point and momentum trading (TA) to seek entry.
I bought in again at 45 cents, not much, but enough to keep tabs on the company, and I will keep buying at these levels and below because the fundamentals suggest that this is a buy.
If the fundamentals change, I will dump and take a loss... but with MGX having cash, no dept, port and rail facilities and access to ore, which they dig up and sell at a profit, I cannot see this fail.
Buying MGX is saving for my future. I do not expect an overnight recovery, but the macro environment will change, and that is when I will cash in.
I agree with you, Snakeye. The market hardly ever prices...
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Last
32.0¢ |
Change
-0.010(3.03%) |
Mkt cap ! $395.6M | |||
| Open | High | Low | Value | Volume |
| 33.5¢ | 33.5¢ | 32.0¢ | $359.6K | 1.106M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 252615 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.5¢ | 85159 | 12 |
View Market Depth
| Last trade - 15.53pm 18/10/2024 (20 minute delay) ? |
| MGX (ASX) Chart |