Hedders,
I wasn't an existing shareholder. My broker puts me in some of these insto/sophisticated investor placements and with this one, I am happy to hold for 20c+ rather than stag like I did with ELD.
Mate, you can sell them right now for 13c.
With your 3 or 4 million shares that will give you a profit of 45-60k.
Then I'm not as sophisticated as you and you probably have another plan
As a chartist, I feel Mosaic looks destined to return to the 9c mark, unfortunately for the true believers.
Consolidation patterns and triangles have been validated as a good indicator of a share prices direction.
MOS is in a descending triangle.
Most volume has been through sellers and the price has now reached a support level. The last trading day on friday pushed it down to support on high volume.
The common wisdom is to subtract the gain from the low price to obtain a target.
15.5c - 12.5c = 3c
So the target is 9c.
I'll wait for a lower price from distressed buyers.
I will have to empty Dharmas shoulder bag of big bills as I feel now that I will soon get MOS again at under 8c.
A chart
gg
I enclose an interesting chart of MOS.
It shows its incredible rise from the March lows of this year of .065 up to 18c recently. Its decline has been just as dramatic.
A fibonnaci retracement from the lows to highs shows an initial 50% retracement in September and then a recovery to 23.8% and now a further fall to a 61% retracement at 11c, recovering to close at 11.5c today.
Who knows what will happen.
I am hoping for a panic sell down on high volume and will have a buy in at 8.5c to pick up a considerable stake.
Its interesting to note how often 11c has been support and resistance, so a recovery may be about to happen.
They are my thoughts anyway.
gg
My experience with MOS doesn't go back that far, only 3 years ago but still the same. It's like an ingrained culture. No matter what language you explain this to people they just don't comprehend or eventually find this out for themselves. At least one could say their share price is reasonably stable.I'm amazed this mob is still going. Small miners usually either become big miners, collapse, or get taken over. I played the Mosaic game over a decade ago.
Here's my take on it: MOS has traded in the same band for the past 20 years. For those who follow fundamentals, well, BHP over 20 years = 1200% rise plus dividends, MOS = 0%. For the chartists, surely your odds are better if you play a stock that actually rises, as everyone wins on average. I don't understand why anyone bothers with MOS at all any more.
Looking like a pretty good call at the moment. You ready to buy after the new year? I'm getting tempted at the current pricing.
Yes- surely MOS can't fall that much lower, although with sellers outstripping buyers 5:1, who knows? You can't help thinking the current price will look dirt cheap down the track. But anyone who's held MOS for a long time will have heard all this before! I have greater faith in Alex Parks than in his predecessor though. Are you licking your chops gg??
A couple of months have gone by since the last MOS post, and here we are- MOS still can't get any positive movement going. Nobody wants a bar of them despite a bit of a recovery in oil prices, and some okay news reported on the ASX. Where to now GG? I bought in at 8.7 cents today, but I'm beginning to fear that they could slip even lower...
An announcement today that AGL Energy (AGK) approached MOS after market close yesterday with an offer to buy the company at $0.15 a share. Advice from MOS is to do nothing as per usual. a nice resultant price jump this morning. At least 15 cents would just get us out in front
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