Australian (ASX) Stock Market Forum

RRL - Regis Resources

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Could be breaking the wrong way.
I guess a spring back is possible, the volume today isn't high yet. Anyway, I'll be I'll for a few more if it gets down enough over future weeks and shows reversal signs - just to make myself feel better. December Qtrly results were ok, costs were up but management seemed to forewarn of this.

I am taking a flogging today, much worse than the ASX200, mostly CHN but everything's significantly down

Daily
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Retest or sustainable spring-back?
Won't try to guess but looking 'hopeful'.
Was trading with a reliable 4.5% ff dividend yesterday.

Daily
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Big dump down to 3.26 today despite gold not going down that much. Any idea why guys? or is it just a big playa like Blackrock finally getting out.
 
It's happening everywhere with the solid goldies, not just RRL. Don't know why. I am watching RRL with a view to adding, this price is as cheap as ~5 years ago, the yield must be edging up towards 5% ff by now. Currently though I don't like the chart, so as I said, watching with a bit of interest, certainly not selling.
 
I have a bid in for significantly more RRL @ 3.18 - relatIve to my holding of course.
Put it in over the weekend but now looks like a short term low might be happening. I took the previous two candles as mildly bullish in a downtrend: the Thursday one is obvious but Friday's follow up is a spinning top on good volume, today is confirming so far - these t/a notions are in the context of apparent fundamental value however. No other encouraging signs in the chart that I can see.

Daily
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Bold move as the gold stocks have been hammered. I'm waiting for a perfect reversal setup before venturing into this sector.
 
Probably wise, hard for me to resist gold stocks when they're on sale - made additions to four so far, not including this one if it fills. There's either something wrong with RRL that is being hidden or its just the ebb and flow of big funds. Possible weaknesses I have considered are that the McPhillamys project is seen as being stalled or that ramp up and production from the new u/g at Rosemont are too slow to satisfy - RRL has always been a big pit miner. But the historical record of RRL is great and if just going by that, which I pretty much am, RRL is the cheapest quality gold producer on the ASX - easily, looking at those with which I am familiar. As far as the general gold market, I am going by gut feel after 19 years of investment in it (the first phase of which was really bad) and the best advice I take, such as Jordan Roy-Byrne, are saying it's close enough to time. One of the best twitter chartists on the other hand is more equivocal recently about which way gold will swing, has been confidently bullish till last week: Northstar @NorthstarCharts
 
Well, chance I will pick up some RRL today from a waiting bid @ 3.18
H1 report out which I'd say is solid but lacklustre? Depends on what interested participants (trying to avoid the term 'the market') have been expecting I guess - i.e. it's possible they have been expecting worse and will bid RRL up.

Production was down marginally ( -5.5k ozs) but achieved price per oz was up. In the final wash, income was down on pcp because ASIC was significantly higher at $130 more per oz. The ASIC figure appears to be expected to improve in H2 as full year guidance is maintained.

The dividend has been halved so I was wrong to assume a reliable 8 cps ff dividend each HY - one of the attractions I am sure to many participants. So that might be a factor in today's reaction. The excuse for the reduction, which sounds legit to me, is that management is conserving cash for the McPhillamys development should it be waved through by NSW government authorities.

Screenshot_20210225-085421_Drive.jpg
 
Low of 3.04 ?
Got distracted and missed the trading. Then it took a few minutes for conviction to seep back. Have put in a bid near the intraday low @ 3.05 in case the recovery fizzles and it gets back down there.
 
finicky said:
Low of 3.04 ?
Got distracted and missed the trading. Then it took a few minutes for conviction to seep back. Have put in a bid near the intraday low @ 3.05 in case the recovery fizzles and it gets back down there.
Click to expand...

I like this company as far as Gold stocks go but I think you will get it cheaper than this.
 
Clansman said:
The shorts have been squeezed on this now and it will ascend from here.
Click to expand...

1616312665786.png



Agree @kennas above

Not sure if the Short sellers were overly prevalent at 0.16% as at 18th March, but I agree that the Stock looks ready for a reversal.

After a little research, I am more of the opinion, that,

Given the TOP 20 Shareholders own 85% of the Company :nailbiting:

I'd suggest that the "short selling" has had little to do with the recent SP downgrade.


More likely, the "BIGGER players" are screwing the slightly less "bigger players" simply because they can!

(Checking last 2 years TOP 20 positions may add some clarity);)


Mopping up "cheap" shares, and collecting dividends at the expense of others looks about the style of the deep pockets brigade!

SP should definitely rise in the short/medium term ... (assuming the POG behaves at within +/- 10-15% of its current range


Even I'm interested in this at the moment, and I'm a mad Spec punter!:woot:

If it were trading at less than 10 cents, I'd likely be all over it like a flea at a dog parade!:jimlad::happy: lol.

i.e. It looks a low risk punt. Is it a better punt than BCN is my immediate question? :geek:
 
Joules MM1 said:
probably not


we have no strong signal to confirm that, what we have is an oversold state with no retest of the low, money flows are negative


View attachment 121736
Click to expand...

It won't retest the low. Isn't required. It has recently gone above the moving average for the first time since $3.77 on the slide in mid January.
I called it going lower then $3.04 in late February. The low was in at $2.86. It won't be going back there.
EVN has followed a similar trend and it too has turned upwards.
 

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