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WMT - Western Metals
- Thread starter crackaton
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Sean K
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Classic. No such thing as insider info going on here. Although, must say, everything U went up today. Maybe a change of the tide.
Well done to those that picked 20 ish cents as a bottom, or as support, and invested. Vindicated.
For those that took a gut feel pluck - maybe lucky.
Having said that, the knifes still falling IMO, at least until it breaks 27 cents to make a higher low, and then 34 ish - where a higher high will be made. Also needs to break downtrend support line. All as per chart.
All the best!
(long term fundamental investors ignore this
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UMike
Klutzing in Thai
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I agree about those knifes falling statement.Classic. No such thing as insider info going on here. Although, must say, everything U went up today. Maybe a change of the tide.
Well done to those that picked 20 ish cents as a bottom, or as support, and invested. Vindicated.
For those that took a gut feel pluck - maybe lucky.
Having said that, the knifes still falling IMO, at least until it breaks 27 cents to make a higher low, and then 34 ish - where a higher high will be made. Also needs to break downtrend support line. All as per chart.
All the best!
(long term fundamental investors ignore this
Sooo temped to buy @22.5c recently.
May still get my chance.
Unfortunately you won't buy at 22.5c try between 27c and 30c tomorrow as the price fell too hard too quickly
Not as quickly as it went up. On the way up, 25c to 45c took only 10 trading days. Compared to this rise, you can even say it took its time on the way down
As for Kennas's statement -- long term fundamental investors ignore this -- ignore it at your peril!
In my opinion.
Not as quickly as it went up. On the way up, 25c to 45c took only 10 trading days. Compared to this rise, you can even say it took its time on the way down
As for Kennas's statement -- long term fundamental investors ignore this -- ignore it at your peril!
In my opinion.
Hopefully it will repeat this 25c to 45c in ten days so i can tell my boss to stick his job up his ass
Not as quickly as it went up. On the way up, 25c to 45c took only 10 trading days. Compared to this rise, you can even say it took its time on the way down
As for Kennas's statement -- long term fundamental investors ignore this -- ignore it at your peril!
In my opinion.
I'm long term investor for WMT, and I bought more today from .235 cents.
Market was waiting todays announcment some weeks ago, who bought from
low 20's good luck.
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Classic. No such thing as insider info going on here. Although, must say, everything U went up today. Maybe a change of the tide.
Well done to those that picked 20 ish cents as a bottom, or as support, and invested. Vindicated.
For those that took a gut feel pluck - maybe lucky.
Having said that, the knifes still falling IMO, at least until it breaks 27 cents to make a higher low, and then 34 ish - where a higher high will be made. Also needs to break downtrend support line. All as per chart.
All the best!
(long term fundamental investors ignore this
Kennas,
I respect your interpretation of the downtrend line and bailed at 26 after the volume fell off at 27 and stochastics turned bearish (trading from a 10 day chart with an hourly count). Thanks for the warning. Always good to seek a steady hand.
Sean K
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Well, I spoke too soon. Sort of. No vindication for those taking a 'punt' here. 20 still may be support, but a hold EOD under that level isn't so great. Support and resistance as shown on the chart.
I have been out of the country and haven't been able to follow this so closely and am not in a position to be short term trading, but I'm not sure if I could even go back here now. It has lost quite a lot of support. Still very dangerous to pre-emp a change in the downward trend line. Indicators flatening and changing to up, which is a positive sign, but ouch!!
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Good performance today... but it had early signs of reversal b4... and failed to penetrate the resistance. Until it does, it is too tough to call.
One other possibility for todays performance could be related to the pending announcement for the Mtonya project in Tanzania...
Tomorrow will prove very interesting indeed.
and failed to penetrate the resistance. Until it does, it is too tough to call. One other possibility for todays performance could be related to the pending announcement for the Mtonya project in Tanzania...
Tomorrow will prove very interesting indeed.
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One for all you TA evangalists - MACD indicator just gone positive as of today for the first time since near the top back in April. Could this be the turnaround?
I agree, tomorrow will be very interesting.
I agree, tomorrow will be very interesting.
Agreed, which is also confirmed by the histogram swing in opposite direction.
Note histogram has also been narrowing for some time prior to trend change.
However it's volume has dropped off since the init trend change and Thursday technically reversed on close.
SevenFX
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Sean K
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Tek, link didn't work for me.
I agree that this may be turning. Just clearing some resistance and the indicators are saying 'look at me' LOL.
I'd have to consider another trade on this if it can hold above those resistance lines, confirming them as support. This is a slippery eel this one.
Note: concerned that this recovery could be just because of the XAO (and particularly resources) strength, and not company specific. If market drops off then this might be back in the dog house rather quickly.
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ZT.
Can you explain why you say that, and any links to your findings would be appreciated.
SevenFX
Hey tekki,
Check out the last investor presentation ... alot of activity due in Q3. Drilling was to take place May/June for Tanzania uranium, assuming 4 week turn around for assay results thats aprox Aug.
05 June 07 - Tanzania Uranium Exploration Update
"Drilling Commences
Following the end of the wet season and construction of 12 kilometres of drill access tracks,
reverse circulation (RC) drilling has commenced on the Mtonya project in southern Tanzania. A
total of 4,000 metres of drilling is planned for June on several areas of uranium anomalism
including the Henri prospect which has yielded high uranium grades from surface trenching.
Results from the assay of the drilling samples are expected to be received in early August
dependent on transportation of samples and laboratory schedules."
Hope it helps
Sean K
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Looks like a bottom to me, but resistance now needs to be confirmed as support. Chart looks great for a turnaround IMO. But, what market cap will the marlet accept? Breaking through 27ish will be pretty bullish.Tek, link didn't work for me.
I agree that this may be turning. Just clearing some resistance and the indicators are saying 'look at me' LOL.
I'd have to consider another trade on this if it can hold above those resistance lines, confirming them as support. This is a slippery eel this one.
Note: concerned that this recovery could be just because of the XAO (and particularly resources) strength, and not company specific. If market drops off then this might be back in the dog house rather quickly.
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Have also been following this one closely. Original recommendation from a "friend" who has a good record with resource stocks was to buy it when it slumped to low 30's. Sort makes picking it up in the low 20's look good. SP has been sliding but fundamentals haven't changed, neither has what they supposedly have in the ground. Agree wholeheartedly with earlier comments about lab results - have been sitting back for them, and agree, SP should move shortly and strongly by year's end.
hi all
if there is anyone out there watching WMT and this thread thi morning and your trading platform shows you the indicated price, or the price calculated by asx to be the opening price based on bidding, then could you please post it at 5-10 min b4 open? Etrade doesnt show me this price unfortunately.
Bye all
if there is anyone out there watching WMT and this thread thi morning and your trading platform shows you the indicated price, or the price calculated by asx to be the opening price based on bidding, then could you please post it at 5-10 min b4 open? Etrade doesnt show me this price unfortunately.
Bye all
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