Ralom, your post reminded me of an article I saw recently about the 9-10c range. Thought I'd post it here in case others find it interesting, seeing as PYC may now be operating in that range - though punching straight through seems likely - and preferable!
GLA
Why I Hate 10 Cent Stocks - Kerry Sun - Market Index
The order book for any 10 cent stock usually looks something like this:
- Buyersat 10 cents – 4,591,395 shares
- Sellersat 10.5 cents – 7,401,301 shares
With both sides so stacked– The stock does absolutely nothing for a very, very long time.
One of the big problems with 10 cent stocksis that they move in 0.5 cent ticks (so every tick is worth ~5%). But when the stock trades sub 10 cents, they move in 0.1 cent ticks (so every tick is worth just ~1%)
Why does this matter?Picture this scenario:You've just set the parameters for a 10% profit and 2% loss (excluding broker fees).
- Place a bid at 10 cents and wait to be filled
- The bid gets filled and you place a sell order at 11 cents (or 10% profit)
- Set a stop loss at .98 cents (or 2% loss)
Even if this strategy works once and you get stopped out four other times – You're still profitable!
For that reason, you’ll often see stocks like Aurelia Metals ping pong like no tomorrow.
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Last
10.0¢ |
Change
-0.010(9.09%) |
Mkt cap ! $466.6M |
Open | High | Low | Value | Volume |
10.5¢ | 11.0¢ | 10.0¢ | $203.8K | 1.941M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
31 | 3224375 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
10.5¢ | 295484 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
31 | 3224375 | 0.100 |
1 | 24884 | 0.099 |
1 | 50000 | 0.097 |
3 | 29944 | 0.096 |
9 | 1396848 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.105 | 295484 | 4 |
0.110 | 483410 | 5 |
0.115 | 492741 | 6 |
0.120 | 987215 | 9 |
0.125 | 2204115 | 8 |
Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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|||||
Last
10.5¢ |
  |
Change
-0.010 ( 4.55 %) |
|||
Open | High | Low | Volume | ||
10.8¢ | 10.8¢ | 10.3¢ | 1428982 | ||
Last updated 15.45pm 30/05/2024 ? |
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