Well I put it down to the gold price. Most investors/traders would have expected the gold to rise under the current conditions I did but obviously I was wrong. At this level the stock appears to be now trading with the gold price. Also market depth appears less encouraging many more sellers at higher prices. The company should announce good number in the next month or so. If retracement continues the factors of most interest with be the Gold price in AUD and the altitude of the holder’s short-term trader longer-term investors. My guess is most traders are out but you never know will probably test low sixty high fifties if I read my chart correctly. All in IMHO of course but I believe the failure of the price trend is all to do with gold failing to break higher or at least holding gains recent gains. The Aud gold price is the lowest I have seen in for quite some time and only in the last few days. If that holds I expect it to test the levels I suggested.
Hope this helps.
Gyro
CRS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
