RXM rex minerals limited

I can't upload a chart but i can tell you that the rounding...

  1. 2,631 Posts.
    lightbulb Created with Sketch. 151
    I can't upload a chart but i can tell you that the rounding bottom is looking pretty strong now.

    after the low of 60c there was a rapid rise to touch the 200dma at 98c. this failed on the first attempt (generally does) and returned to a higher low of 62c.

    since then we have seen higher highs and higher lows up until a virtual touch of the 200dma again at 78c on 18th jan.

    after a retrace to yet higher lows of 66c it had a 3rd attempt and got above the 200dma briefly but did not close above.

    the price has now retraced to a low of 63c but moved back up to 65c.

    the averages are all converging and we see high volume on price rises... its not hard now to get a golden cross from here and i really think that this is going to get through soon. probably punch up through, then drop to retest the 200dma and then we will be away!

    i'm a fundemental guy but i'm really seeing the fundementals reflected in the technicals here. i think demand is coming back to the stock and we are in the depths of value valley right now! once this gets going, perception will immediately shift to "why the hell wasn't i interested in this in the 60's!?"

    in my opinion we have been in uptrend since late september with the low of 60c. from that low, the 61% rise only took 5 weeks! the stock is tight and i really think we are getting close guys.

    i bought today and will look to accumulate.

 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.