Agreed! This stocks is suffering heavily from margin calls resulting from the 20% market meltdown recently. Being an ASX 300 stock one can leverage the stock through most large banks and brokerage houses. Some people are leveraged to 70% on blue chips that have had a complete caning; e.g. ZFX. These guys are now meeting margin calls by selling out of their stronger stocks, such as LGL, to cover their losses elsewhere. When this is all over, LGL should shift through the overhead resistance around A$4.25. The fundamentals for gold could hardly be better and LGL has a large gold reserve despite its "exciting" location within a volcano!
Agreed! This stocks is suffering heavily from margin calls...
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Last
$1.50 |
Change
-0.040(2.60%) |
Mkt cap ! $183.0M | |||
| Open | High | Low | Value | Volume |
| $1.53 | $1.53 | $1.46 | $11.45K | 7.713K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7050 | $1.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.56 | 30000 | 1 |
View Market Depth
| Last trade - 14.57pm 29/08/2024 (20 minute delay) ? |
| LGL (ASX) Chart |