Re my previous post 25/2 --my "important s/r level" (around 16/16.5--my Commsec charts are accurate enough imo for HIO and its stage of maturity -unless you're a constantly in+out day trader..) is still intact --the longer it stays intact , the more important it will be.
I'm comfortable with its behavior so far--old traders say "when a stock keeps going sideways and the volume dries up (as it has been) -then it's getting ready for a good move (either way)" .Current Retracement has been only to around 50% ("the Most Important Level"-Gann) or depending on your software -closer to Fib 61.8 (Probably my favorite level for this sort of stock..)
3 month chart half hour ago--finally getting some good volume in the direction of up travel--will be interesting to see what the close brings -and the rest of the week also.
Another reason I'm feeling that an up move is imminent--I drove past the HIO yard last week (still has Carpentaria signs on the gate--no frivolous wasting of shareholders money by our board lol ) and the yard is fairly empty .
Noticeable because the yard a week or so prior was full of a huge stack of core sample containers--about 2 metres high by very roughly 10 or 12 metres square. So I ASSUME that the samples have all gone somewhere to be analysed and we are really just waiting for the results to be released --along with the HIO doco and Co. updates no doubt...which will give our sp a decent kick upstairs imo.
I wouldn't be surprised to see 34-35c in the next strong move.
Hopefully I haven't jinxed us by posting --but I don't think so-and, as I said before --always have a plan B regardless.. (oh--and execute it as and when you said you would!!--source of many a traders regret..I think Red Ned and I being of a similar "vintage" would agree) (I must stop this bracket habit)
Disappointingly for me, I wasn't able to get out to the HIO site for a look this trip-my "guides" were busy when I wasn't and vice versa- but I'm told that the best way to see it is from the air anyway (read-doco drone footage) and how far onto the site I could've gotten driving would've depended on who was with me and who was on site at the time--so...will have to be next time.
I'm back in FNQ for a month or so of medical boredom b4 returning to the Hill for rest of year..
GLTAH
Also of note-COB up by around 50% over the last 7 trading days currently 70c up from 45c- me happy with that ! shoulda bought more...
Go Silver City!
bit of trivia--Broken Hills' main st is Argent st. why? its from the Latin for silver- Argentum. The Hills' streets are named after very noteworthy business people ,councillors etc but majority after minerals and the chemicals used for the processing thereof. Not much fun happened in Bromide street though......
