GXY - Galaxy Resources

[pixel]

target: 15c?

I wasn't quick enough pulling the 15c sell order. but immediately bought a new position on the break.

New target 23c; stop level lifted to 14.5c

 

[Muschu]

Strong announcement about to create a gap? This already factored in?

 

[acogs]

I wasn't quick enough pulling the 15c sell order. but immediately bought a new position on the break.

New target 23c; stop level lifted to 14.5c

Hi pixel,

Any updates on the latest chart from your point of view?

Cheers

 

[pixel]

Galaxy is a stock I wish I had never sold.
But these kind of stocks are so few and far between that, on average, it's still more profitable to trade swings than holding on for months and years.

I hold again, hoping for a break above the current Darvas Box. Stop if it drops through the bottom of same.

 

[joeno]

View attachment 66589

Galaxy is a stock I wish I had never sold.
But these kind of stocks are so few and far between that, on average, it's still more profitable to trade swings than holding on for months and years.

I hold again, hoping for a break above the current Darvas Box. Stop if it drops through the bottom of same.

I put a order 1 year ago and didn't get it at the price i wanted. If i did I would've kept it until now as I'm a LT trader.

 

[pixel]

I put a order 1 year ago and didn't get it at the price i wanted. If i did I would've kept it until now as I'm a LT trader.

The breakout failed, so I got off while still in profit.
Today's request for a trading halt makes me rather glad I did: The reason given, "update on offtake agreements", sounds rather ominous if one looks at the last few days' trading action.

 

[pixel]

The last valuation I read about 6 months ago had GXY at 16c and GMM at 40c.
If I recall correctly, that had even been requested by GXY.
OK, sometimes even paid analysts get it wrong but when the sp is pushed 100%+ above valuation, I tighten my stops.

 

[pixel]

Channel breakout - at last! Good volume too.



I bought the break. Still a risk, so DYOR as always.

 

[pixel]

Good news met with sell-off. Go figure.



Stopped out.

 

[tech/a]

One of the improvements I made a while ago was to have a trigger that proved itself.

As you'll see in the Charts of Interest thread. While it doesn't eradicate trades which turn tail and run
it does improve the win rate while cutting down on number of trades.

Lets face it if you get it right it just keeps moving in our direction.

 

[pixel]

Today's article in The Australian must have created quite a stir:

Red-hot lithium miner Galaxy Resources is contemplating the sale of a stake in its $US1.4 billion ($1.94bn) Sal de Vida lithium development in Argentina as it weighs up funding options for the project.

Galaxy, the best-performed stock of the ASX 200 in 2016 after a 330 per cent share price gain, has been in talks with potential offtake partners in recent months as part of its plans to develop the Sal de Vida.

Managing director Anthony Tse told The Australian those discussions included the prospect of selling a 30-40 per cent stake in the project, which would reduce Galaxy’s share of the project’s $US376 million capital cost and help fund its remaining portion of the capex bill.

The company almost went under in 2013 under previous management as it struggled under the weight of debt, and Mr Tse said he was determined not to repeat the mistakes of the past.

“Having gone through that cycle of deleveraging the balance sheet, we also want to think of ways to not overleverage again and have a reasonable level of the most appropriate financing structure for our projects,” he said.

Barely had the Market digested the pre-Open announcement about the first shipment (which was rather "Olds") than a Trading Halt had to be called so they could reply to the above with a "clarification".
Meanwhile, the chart keeps tracking higher...

 

[pixel]

Is this finally the bend at the bottom end of the falling trend?
The Quarterly Report and especially the way it's presented, make good reading. Of course, that could well mean more "selling the fact", so I'll wait and see.

 

[pixel]

Selling the fact alright. Watching if Fib 38.2% is finally holding...

 

[Cam019]

In today at 2.35 after a breakout above 2.28, which is a little higher than I would have liked but, in none the less. iSL is a close on or below 2.18.

 

[Cam019]

Continuation gap this morning with with a close on todays high with high volume. Looking good. Depending on future price action, some pyramiding could be on the cards. Let's wait and see. SL moved to a close on or below 2.36.

 

[Cam019]

Out yesterday at 2.61 for a +1.5R result.

 

[Triple B]

Out yesterday at 2.61 for a +1.5R result.

View attachment 72624

Nice trade and exit .
A couple days selling pressure but could there be life left in it? selling may be from breakout traders taking profit. Big money still in to maximise profits from stock bought up to $2.10-$2.20 ?
looks like solid accumulation down at $1.80 -$2.20 and with the stock history may go to $3.20.
I'm trading this on paper. no skin in the game as yet.
Notice the two stop loss catching down bars sept 5 and 8
I reckon that is the smart money triggering tightish stops set down to the previous days open
collecting for later up the trend
How? put quite a few lower and lower asks on for the market price takers especially with thin top line of bids,drop the price and trigger all those stops and day traders also run away, ie suppy overcomes demand
probably use stocks bought down near $1.80 for this.
.
Smart money are bastards

 

[pixel]

Turns out the gap 2 weeks ago wasn't a breakaway after all.
Instead, it gave "someone" a welcome opportunity to get back down and pick up more shares for a good price. Mission accomplished, and back up she goes.
Now wait for the breakout proper.

 

[Triple B]

Turns out the gap 2 weeks ago wasn't a breakaway after all.
Instead, it gave "someone" a welcome opportunity to get back down and pick up more shares for a good price. Mission accomplished, and back up she goes.
Now wait for the breakout proper.

View attachment 72744

Yeah. someone is still buying. look at absorbtion on Friday 22nd
perhaps a few days acc then a big push past $ 2.80 to keep the locked in buyers between $2.50 -$2.80 from becoming selling competition. keep them in till the top and beyond.
They sucked me into a short sell on paper!!
Some day trading opportunities ahead perhaps?

 

[greggles]

Galaxy Resources is offloading a package of tenements located on the northern area of the Salar del Hombre Muerto in Argentina to South Korean conglomerate POSCO for US$280 million in cash. Galaxy will retain 100% of the tenements in the southern area of Salar del Hombre Muerto included in the recently announced updated feasibility study for the development of Sal de Vida.

The sale will put Galaxy in a strong cash position enabling it to progress the development of Sal de Vida, which is expected to be a 40-year mine life project producing the equivalent of 25ktpa of battery grade lithium carbonate.

GXY gapped up after the announcement and is currently trading at $3.34, up 11.71% from yesterday's close of $2.99.