No.
I don't believe FMS is oversold. The market has valued FMS accordingly.
Until there is a solution to rail/port, financing, and the like, the highest you would probably see FMS is 5c.
The AGM was just another carrot and donkey example where spoken words beforehand did not eventuate to anything. This has been a pattern over the last year or so, and until that changes, this is where FMS sits.
Having the resource in the ground without extraction means nothing.
On a side note, it's good to see Mr 5 million sitting and moving his bid around. He was at 3c for a while, then when a bit of selling took hold after the AGM he moved down to 2.8c, but after yesterdays buying, he is now sitting at 3.4c. Let's see what the next move is.
way oversold, page-2
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Last
75.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $149.8M | |||
| Open | High | Low | Value | Volume |
| 75.0¢ | 76.0¢ | 75.0¢ | $7.462K | 9.894K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7035 | 74.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 76.0¢ | 12268 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| RHK (ASX) Chart |