I think today's action shows that the market isnt too...

I think today's action shows that the market isnt too unimpressed with the news of the cost over run.

A cynical person would suggest that yesterday's volume was a 'shakeout'
Shakeout from HC poster Jako8557
With the media coverage and hype around the cost overrun, im leaning towards being one of those cynical people!!

Or could just be that investors thought the market over reacted and saw today as a buying opportunity.

Either way, a solid performance today, with a close at .69 or .70 shows great support at this level, whereby the rebound is above the halfway point of the fall, a sign of strength at this level.

I would suggest that the LT support of .68 has held and we should see a run up to resistance of .74 / .75 and a range trade opportunity leading up the end of the year and onto the next.

A short term 'spring' has presented itself as well, but i suppose we will wait and see tomorrow. I would say if i was having a punt tomorrow, i would wait for above average volume of around the 700k mark and we will see a run onto said resistance. Today we have seen around the 800k shares traded.

GLTA

GO GO GOR

stu