umm DJ no advice here... i've sold mine, and dont expect any more ann till end of next mth, so letting the market cool off a lil
FNT has hit the top for a while and is going to retrace hard, get out while you still can, dont listen to day trading rampers on this board. SELL and take your profit, then rebuy in a few days if you like the fundamentals. dont risk losing your money and get out while theres still a bit of buy depth left. (Currently 23c)
IMO it wont retract, the reason i think its not doing as well as it should be today is the Mats sector is down ~32 points.
I think this baby will be moving up for a while....(hopefully) ;D
FNT has hit the top for a while and is going to retrace hard, get out while you still can, dont listen to day trading rampers on this board. SELL and take your profit, then rebuy in a few days if you like the fundamentals. This is definitely going down so dont risk losing your money and get out while theres still a bit of buy depth left. (Currently 23c)
Isn't this blatant downramping?
By my reckoning, on fundamentals alone, if you compare the market cap to the inferred resource the ratio is exactly the same as it was before the announcement - and still significantly undervalued at around 0.25%. There's no reason for it to retract except for trigger happy traders trying to make a quick profit (and downrampers trying to get in).
I'm holding - Do Your Own Research!
Will this amount of shares held now at a buy price at 22.5 or above provide some short term support for the sp?
Well sorry if its down ramping but I wont be buying into FNT again I was just thinking alot of new people to stock broking may forget to sell and take there profits and when you look at sell depth vs buy depth it looks as though alot of daytraders have sells ready. If they dont sell near the end of the day they may just change there sells to "At Market" if they do it may retrace to 18.5c/19c, all IMO and people can do as they choose but if I were holding fnt now I would definitely be looking to sell out before a late afternoon rush of day traders selling out. Volumes over last 2 days just a bit worrying for me, all upto your own trading plans though.
I think saying something is 'definately going down' is crossing the line. There is no sure thing in the market, and any statement giving direction of a stock needs to be accompaied by some valid reasons. Perhaps the day traders having jumped on this and the buy side drying up has some validity. I have been watching it myself, and this has occurred, but who's to say that buyers won't come back in this afternoon. Looks like plenty of profit taking happening now. I provided a general warning on this this morning.Isn't this blatant downramping?
By my reckoning, on fundamentals alone, if you compare the market cap to the inferred resource the ratio is exactly the same as it was before the announcement - and still significantly undervalued at around 0.25%. There's no reason for it to retract except for trigger happy traders trying to make a quick profit (and downrampers trying to get in).
I'm holding - Do Your Own Research!
Well sorry if its down ramping but I wont be buying into FNT again I was just thinking alot of new people to stock broking may forget to sell and take there profits and when you look at sell depth vs buy depth it looks as though alot of daytraders have sells ready. If they dont sell near the end of the day they may just change there sells to "At Market" if they do it may retrace to 18.5c/19c, all IMO and people can do as they choose but if I were holding fnt now I would definitely be looking to sell out before a late afternoon rush of day traders selling out. Volumes over last 2 days just a bit worrying for me, all upto your own trading plans though.
Well, I'm relatively new to this too Prawn, so feel free to research some charting/TA theory and smash me if you have a different opinion.was wondering if kennas could post an EOD chart for the last week or so and give us his opinions now. Am i right in saying there is a small gap that technically should be covered at some stage??
i repeat i have no idea with charting lol
Gap - Breakaway: Breakaway gaps signal a potential change in trend and are especially significant when accompanied by an increase in volume. A bullish breakaway gap forms when a security gaps up after an extended decline. Bullish breakaway gaps can also occur after an extended base or consolidation period. A bearish breakaway gap forms when a security gaps down after an extended advance. Bearish breakaway gaps can also form after an extended top or consolidation period.
Gap - Common: Common gaps occur within a trading range or shortly after a sharp move as a reaction. These gaps do not signify the beginning or continuation of a move, but rather represent anomalies. For instance, if a security has declined 20% in a week and gaps up, it would be considered a common gap and not likely to signify a change in trend. Or, if a trading range develops between 20 and 30, and a gap forms in the middle, it is probably a common gap.
Gap - Continuation: A continuation gap forms in the middle of a move and in the same direction as the current move. These gaps signal a continuation of the preceding trend and can mark good entry points. After a short or intermediate advance, a continuation up gap is usually considered bullish and signals a renewal of the uptrend. After a short or intermediate decline, a continuation down gap is usually considered bearish and signals a renewal of the downtrend. This gap is also called a measuring or runaway gap.
Gap - Exhaustion: After an extended or long move, a gap in the direction of the current move is called an exhaustion gap. For an exhaustion gap to be considered valid, prices should reverse soon after the gap and close the gap. After an extended decline, a gap down could signal that the downtrend is about to exhaust itself. An exhaustion gap is confirmed when prices reverse soon afterwards and move above (or "close") the gap. After an extended advance, an exhaustion gap would be confirmed when prices reverse soon afterwards and move below the gap.
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