There is nothing extraordinary about a 20%-25% share price drawdown after a 90% - 100% share price rally.
Really, it should be an expected outcome as traders take profits and buying momentum declines. Weak hands or high priced buyers can be expected to jump ship.
I have no particular charting expertise to advise support levels etc. but I would think that in the absence of any new uranium/PDN news, a drop to the mid 80c price range should not shock anyone. Accumulators may also see that as a re-entry point with production announcements not far away. For my own part, having lightened a little at over $1, I am seriously considering topping back up in mid 80s (if it gets there).
Experienced investors understand no stock goes in one direction forever, and uses that as best as they can to their advantage.
GLTASH
THE SQUEEZE IS ON, page-1297
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Last
$11.55 |
Change
-0.190(1.62%) |
Mkt cap ! $3.454B | |||
| Open | High | Low | Value | Volume |
| $11.94 | $11.94 | $11.32 | $50.18M | 4.349M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 337 | $11.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.57 | 45691 | 2 |
View Market Depth
| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| PDN (ASX) Chart |