Downtrending sector: Gold
look at virtually all gold stocks the charts look the same. Since the highs a year ago in gold they are mostly in stage 4 decline or at best a stage 1 base like some of the majors are beginning to show after 12 months of downtrend. This is simple trend following. Even buying a good stock while the sector it belongs to is in decline can often be worse then buying a poor stock in a hot sector.
However this also means that right now good gold stocks that have been beaten down present good opportunity of value buying however we don't know how long the depressed share price might remain until sector sentiment turns hot again and pulls quality stocks up with it.
I'm not going to be one of those blaming management for a 9.6moz resource from nothing in 2 years. It's sector related, go scan the charts of 50 gold stocks you will see the common theme. In time it'll rip hard but we 100% need the gold bull
Downtrending sector: Goldlook at virtually all gold stocks the...
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Last
15.5¢ |
Change
0.010(6.90%) |
Mkt cap ! $42.15M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 16.0¢ | 14.5¢ | $107.5K | 703.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 97305 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 161967 | 2 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| NVA (ASX) Chart |