speaking of the 'counter intuitive view', the chart is screaming...

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Xenius

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06/05/20

01:39

Post #: 44453032
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Originally posted by speculator101 ↑

Hi Gazza, no problem. I can only assume he is busy writing up his next company report.

Not sure if many follow DCN, but I bring it up, because they recently undertook a huge capital raising ($98m) at a discounted price of 70% before it stopped trading earlier in the year. It continues to produce (not overly profitably right now, but.. poor hedging was a major reason) and, without going into detail, was basically sitting at an MC of around $220m, with next cash of $8m. Producing around 120k p.a at a similar AISC than Darlot.

The cap raising was at $0.30, and the stock, even though massively diluted, did not get down to that to that price (lowest was $0.34), and today finally moved higher ($0.43) in a big way. As I read it, those hoping to buy in around $0.30, simply did not get the chance, and are now playing catchup.

As I posted above, I see a similar outcome for RED, although its hard to know exactly when it will move, I have a suspicion, it will be very close to when the new shares list (12th May), which perhaps sound counter intuitive, but... when a stock is undervalued, and a sector is rising, well... it just means the price has been stretched to the downside further than most, due to the cap raising.

All speculation on my part.

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speaking of the 'counter intuitive view', the chart is screaming out that the bottom is in a move up is very very close.... all IMO

RED Price at posting: 19.5¢ Sentiment: Buy Disclosure: Held
5 Upvote

2 Great analysis

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(20min delay)
Last 34.0¢		Change 0.015(4.62%)		Mkt cap ! $2.312B

Open	High	Low	Value	Volume
34.0¢	34.5¢	33.0¢	$5.261M	15.49M

Buyers (Bids)

No.	Vol.	Price($)
6	436484	34.0¢

Sellers (Offers)

Price($)	Vol.	No.
34.5¢	964447	6

View Market Depth

No.	Vol.	Price($)
5	435000	0.340
17	855499	0.335
14	653508	0.330
9	449545	0.325
8	290500	0.320

Price($)	Vol.	No.
0.345	964447	6
0.350	944842	15
0.355	112817	5
0.360	668399	6
0.365	389682	12

Last trade - 16.10pm 19/11/2024 (20 minute delay)

VAU (ASX) Chart

speaking of the 'counter intuitive view', the chart is screaming...

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speaking of the 'counter intuitive view', the chart is screaming...

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