Galaxy has reached full value for now ....so brokers advised to sell off now & buy back after retrace ....simple as that !
GXY up over 80 % recently when asx gone up less than 2 %.
lotsa Lithium stocks all went up like the boats in the rising tide.
This is exactly how the market works...
also lotsa people have 'trailing stops' set at about 5-7 % less than the rising S/P. The Brokers sell short at say 39 cents (Tawana for example) & then buy & sell their own shares down till triggers the 'trailing stops' .
it's nothing personal ....they (brokers) just bring the S/P back lower to the 10/20/50 day averages...
15 -20 years ago I used to day trade but ended up going bonkers...these days older & wiser ...just select the company with top fundamentals(Tawana is a standout IMO) & hang on till production.& sleep well.
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Galaxy has reached full value for now ....so brokers advised to...
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