IMO today's announcement is the wrong day to exit BCN for those who expect that price will drift lower over days/weeks to buy back in. IMO price will rise from here (barring any major weakness in the sector). Reasons -
1. Today's announcement will attract new buyers who may have been uncertain if the deposit would reveal new areas of mineralisation. Today indicates that the extent of Halleys East is very much open, with enormous potential to the upside.
2. Assays are ongoing and the potential for more good news in the near future is high.
3. Many of the sellers waiting for news to sell are now out. If they want back-in they will have to chase the share price higher.
I added to my position on the dumping. It's blue sky from here.
wrong day to exit.
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Last
2.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $93.91M | |||
| Open | High | Low | Value | Volume |
| 2.5¢ | 2.6¢ | 2.5¢ | $2.388K | 94.25K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1929133 | 2.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.6¢ | 416970 | 4 |
View Market Depth
| Last trade - 15.06pm 21/06/2024 (20 minute delay) ? |
| BCN (ASX) Chart |