As usual, excellent post Tradealot and your logic shows the...

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helmenesh

1,195 Posts.

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15/04/18

11:47

Post #: 32463046
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Originally posted by tradealot ↑

Hi @Averagejoe2013, shareholders & readers.

This info is for newish traders. LT market players would be well aware of the following, so for you guys just disregard.

The floor's eventually going to be 12-12.5 on average results which we saw the sp touch last Wednesday. It's also very normal and predictable for the sp to bounce back after a plunge as buyer rush back in with the short term trading opportunity presented to them.

You'll notice the sp has returned to a lower high of 15.0, were it was trending about 16-16.5 before the selldown.

So from now on with average drilling results we'll see a continuation of the downtrend. This coming week's weekly announcement will see another selldown again to 12-12.5 on average results, and then a bounce to a lower high, maybe 13.5-14.0 as the market sentiment changes just a bit more.

This trend pattern will continue until the market gets fantastic results. Eventually without any fantastic results you'll be able to get all the shares you want at 12-12.5.

Off course all of the above only relates to the scenario for average drilling results continuing. Everyone know what's going to happen once fantastic results are reported. It's up, up and away.

Probably the best way to cover all bases with sgq at the moment is to hold some shares long, along with some shares for short-term trading.

Have a great weekend

Cheers
Tradealot

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As usual, excellent post Tradealot and your logic shows the results of much experience. One question however, the chart also shows a gap between 7.5c and 6.5c. Do you think there may be a possibility of a revisit to close the gap by opportunists if news are perceived to be week? Strongly agree with you. the focus should be on a long hold - possibly with the majority of one's holdings - and, play with some at these ridiculously low prices. IMO it is a good buy now; but one cannot help thinking what a steal it would be at 6 or 6.5c. CHART ATTACHED AS THUMBNAIL

Enjoy the rest of your weekend.
Cheers,

helmenesh

SGQ Price at posting: 15.0¢ Sentiment: Hold Disclosure: Held
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