PRU 4.76% $2.42 perseus mining limited

Always harder to pick a buy/entry than a sell unless a stock is...

  1. 1,642 Posts.
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    Always harder to pick a buy/entry than a sell unless a stock is holding support when sentiment turns... And producers turn early.
    There is no clear point where sentiment might change except:
    a) as of yesterday, all the majors have had a minimum 15% reversal. I believe this was necessary for some of these stocks to break major downtrends. Don't want too big a pull back if down trends are to be broken in the next up cycle (and targets hit). Most producers have targets.
    b) the sector had run out of steam while hitting major resistance. Pressure now released. Includes XGD and GDX.
    c) for the XGD, 5,910 is a reversal with buy signals and support kicking in around 5,610 but not expecting that big a pull back.
    d) but mostly because the Aussie gold price is already sitting on short term support. Been waiting a week for A$2,645 to make this chart look really pretty. Gold can hold this price while sentiment (and equity prices) falls.
    .
    https://hotcopper.com.au/data/attachments/5059/5059982-19b18a648315180f603d4e192568b665.jpg
    .
    My PRU trading chart suggests major support at $1.62 and a target of $3.99.
    .
    https://hotcopper.com.au/data/attachments/5059/5059979-7d3438ab07eb4e47adf141c6305fb06b.jpg
    .
    If gold really is in a proper bull market then short term support should hold for gold and the producers.
    Here is the PRU short term chart with the ideal entry price range highlighted in green.
    I do use a calculated entry which is the distance between the blue and red (8 boxes) extended the same distance below the red box. This is $1.74
    Then there is support just below, beginning at $1.70 to $1.64.
    I used the same entry method on WAF for an entry at 96c as horizontal support is at 94. WAF currently holding this range. A bit more difficult when stocks are hit hard early in the down cycle. Can always fall further.
    .
    https://hotcopper.com.au/data/attachments/5059/5059988-4a8f8580c0b57fd2d605aff3616d2996.jpg
    .
    I think we are within a week of a turn-around.
    Patience and timing.
    My opinion only.
 
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Last
$2.42
Change
0.110(4.76%)
Mkt cap ! $3.324B
Open High Low Value Volume
$2.37 $2.44 $2.37 $11.79M 4.893M

Buyers (Bids)

No. Vol. Price($)
13 577954 $2.40
 

Sellers (Offers)

Price($) Vol. No.
$2.42 92046 6
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Last trade - 16.10pm 16/05/2024 (20 minute delay) ?
Last
$2.41
  Change
0.110 ( 4.51 %)
Open High Low Volume
$2.37 $2.44 $2.37 1194174
Last updated 15.59pm 16/05/2024 ?
PRU (ASX) Chart
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