Charts don't mean a thing unless you have a good grasp on the underlying fundamentals of this company. Short term (next four weeks) drivers of SP are going to be release of the KOTH regional exploration program and resource declaration, KOTH UG reserve upgrade, and Darlot reserve upgrade. The cash position in the Q report will probably be a boost to SP as well good productions results and any further good news from the drilling program at Darlot.
As you have said, Red is fully priced at the moment and, IMO, will only move "north" on a positive news release. Trumpy and POG are a bit of a distraction at the moment but need to be discounted to focus on the fundamentals. A $1 plus SP in the next three years is a real probability. If you can find suitable entry and exit points to make good money on this journey, good luck. I'm holding for the big payday in 2022.
RED Chart, page-119
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Last
42.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.857B | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 43.5¢ | 42.0¢ | $10.98M | 25.76M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 422803 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 1424887 | 9 |
View Market Depth
| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |