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GXY - Galaxy Resources

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Hello,
Long time lurker first time poster!

Looking at picking up some GXY tomorrow whilst they're hovering around the $1 mark. Anybody reckon they'll go much lower?
 
The general consensus on GXY was a stock on the rise. The fall appears to be greater than most thought. I considered buying back in at $1.10 but it seems to keep falling. Does anyone have any thoughts for the considerable fall in share price?:
 
GXY - I think its worth a look right now. good announcement regards to partnership with american battery producer, will speed up production heaps. Only concern is americas debt ceiling, making people very nervous. I think its a great long term stock with great earnings potential. The price is showing some resistance .68 - .71 which i think is cheap. Of course do your own research, Im no expert.
 
Recent partnerships put the company in good stead. Under the current current it looks like a long way off the 1.45 I bought in at, but I'm in for the long haul on this one - mind you, I have little choice!
 
  1. Price breakout
  2. ASX: Please explain?
  3. GXY: We know nothing.

and the buying continues...
I hold.
 
Another positive day; chart aside, I like today's announcement that they let GMM take the lead in iron and manganese; gives them more time to focus on the essentials.
 
Price has come back down to almost fill the gap on much lower volume.

I really like today's bar. An ultra low volume test into a previous high volume area.

Let's see on Monday if this test is successful and if it pushes higher again.
 
pavilion103 said:
Price has come back down to almost fill the gap on much lower volume.

I really like today's bar. An ultra low volume test into a previous high volume area.

Let's see on Monday if this test is successful and if it pushes higher again.
Click to expand...

Where is it going to go? Anyone?



Announced official opening for their battery plant in China. That has got to be good news ? Not much interest as far as I can see.
 
mr. jeff said:
Where is it going to go? Anyone?

Announced official opening for their battery plant in China. That has got to be good news ? Not much interest as far as I can see.
Click to expand...
For me, the critical level is still 84c; as long as it can't break and hold above, all I do is sniping. On the longer-term scale, I have also the symmetrical triangle added in; I do see however a short-term secondary gradient that pushes down much more steeply.
That, and today being a Friday, caused me to take all my money (plus profits) off the GXY table.

 
Absolute textbook triangle pattern. Had a shot at breaking it at open - no go.

Also if you scroll out, there's a rounded bottom appearance which are usually very powerful long term patterns.

Both patterns are ripe to pop very soon. In fact they will have to, otherwise the patterns will be messed up - which is unlikely since they are both big patterns. Will be interesting viewing over the next few days.

As an absolute minimum, I reckon there's ~10% in this, short term. (to 93c)
 

I am watching this too and was considering an entry for the break up today, however with the stock not moving was not convinced yet. Will keep watching, pattern is definitely coming to completion. Which way to go ?

IS this of any relevance:

"POSCO aims to drive faster lithium processing
by: Geoff Hiscock
From:The Australian March 14, 2012 10:23AM

NEW lithium extraction technology unveiled by South Korean steelmaker POSCO potentially will transform the global market for the soft white metal, which is used in making lithium-ion batteries for smartphones, iPods and electric vehicles.

There are two main lithium extraction methods: either through evaporation from salt-pan brines, sourced mainly from South America’s “lithium triangle” in the Andes mountains straddling Chile, Bolivia and Argentina; or from hard-rock mining at sites such as Talison Lithium’s Greenbushes plant in Western Australia."

Wondering whether this may provide GXY an increase in interest or a decrease in profit from cheaper competition in Li sales.

Not that I really worry about the news, but that critical level at 0.85 saw a lot of selling yesterday and that is not a positive indication.
 
Gringotts Bank said:
I would have thought that was positive news jeff.

I bought at 84.5. Did you get some?
Click to expand...

Looking at it seriously.
If I enter it will be just on close. Looking good so far.



Looking forward to watching this unfold. Incidentally, attended a seminar by IBM Materials Research on "Li-air" batteries which are quite possibly the replacement of the LI-ION stuff that is heavily compromised by weight, and you guessed it, the Li-air tech is as light as air and 3.5 times more energy dense. Exciting, but a while off but this suggests that Li is not dead just sleeping.

Sorry for the aside - I certainly don't trade based on this sort of stuff, but interesting anyway.
 
Thanks for that info.

I meant to post a chart myself. Lower highs and higher lows providing the triangle boundaries.
 

Attachments

  • gxy.jpg
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Most definitely looking better than on Wednesday when it fell away from the resistance trendline. Still didn't quite trust it today because it has yet to make a higher High: 89c on Feb 27th is the minimum requirement.

 
Will be watching for more signals of strength, not a bad day today and got an entry at the end.
Looking for a break on an announcement either Monday or Tuesday, targeting 94c.
Absolutely baseless and no reason why, but based on the triangle and the way GXY can move, I wouldn't be that surprised if it jumped a bit. (Could be either way although last few days suggests up, as I have shown)
 
I'm still excited.
Held up well today with not much selling. Watching the next move, looking OK so far, but have to break that next level which may halt it and cause a partial retrace.

 
Moving well but has seen some selling with wide ranging bars looking down.
Will see how it can hold up in today's down day....it has so far held weakly above that 92c level which is good, but if it would not be a good entry until it moves above that recent high at 98c.



Watching for more action. One more thing to note is that volume is coming in. Not as likely as the last break up, but a push to break that high may come soon to try and jump sellers and move into a decent uptrend - possibly more likely due to commissioning of something that will start generating cash, so might take some positive news from China to get it over the line - something like easing of monetary restrictions etc.
 
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