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
10.3¢ |
Change
-0.003(2.38%) |
Mkt cap ! $489.9M |
Open | High | Low | Value | Volume |
10.5¢ | 10.5¢ | 9.8¢ | $2.137M | 21.36M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 245250 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
10.5¢ | 374688 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 245250 | 0.100 |
1 | 29116 | 0.099 |
4 | 532551 | 0.098 |
1 | 250000 | 0.097 |
1 | 20000 | 0.096 |
Price($) | Vol. | No. |
---|---|---|
0.105 | 374688 | 6 |
0.110 | 1139749 | 5 |
0.115 | 829700 | 5 |
0.120 | 1789122 | 7 |
0.125 | 820000 | 3 |
Last trade - 12.28pm 16/05/2024 (20 minute delay) ? |
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Last
10.0¢ |
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Change
-0.003 ( 0.00 %) |
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Open | High | Low | Volume | ||
10.3¢ | 10.5¢ | 9.6¢ | 773710 | ||
Last updated 13.32pm 16/05/2024 ? |
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