WMT - Western Metals
- Thread starter crackaton
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well.
impressive volume today.
it's been a while after correction and uranium price down.
but today's action seems defying all above.
still no idea though why?
maybe just oversold before.
glad still holding.
good luck to all holders.
cheers
impressive volume today.
it's been a while after correction and uranium price down.
but today's action seems defying all above.
still no idea though why?
maybe just oversold before.
glad still holding.
good luck to all holders.
cheers
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The price increased 5c or 31.2% on high volume (46 mill) with no announcement expected!! It looks like there may be something very positive happening which will unfold over the next couple of days - perhaps an unexpected discovery? PDN had an average day so WMT's performance is certainly not tied back to the uranium sector in general. This stock has been pretty illusive in the past - great to see it coming back.
If you look at the current chart above, there is no reason to suggest that today was anything other than a blip or an abberation as occurred mid July. The MACD & DMI indicators are telling us that there is no good news on the horizon yet.
I am not a holder of this stock.
The blip you talk about in july was news related. The week running into the announcement and then the day of the announcement of Uranium results pushed up the price. Then with market volatility brought it back down. Im not saying this one is news related, but there was Uranium results due in August
Sean K
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The descending triangles seem to be flattening out a bit here. Breaking down through 15 will be a bit untidy I feel. Maybe next support 10. What's the story here? Just been subject to the U bear of the past 6 months? Probably. With U price potentially stabilising might find some suport.
Here's a chart with some random lines on it....
Here's a chart with some random lines on it....
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yeah not impressed with the last couple of weeks after buying in on the last surge up to 0.20. looked like it found some momentum with u prices bottoming and announcements coming soon. bailed half last week and bailed the rest yesterday, im thinking along the same lines as you kennas 0.10-0.11 is my next entry if it gets there. perhaps a double bottom and off we go, meanwhile money to be made elsewhere.
I like the last paragraph from the September quaterly report about search for an advanced project.
"The company has also undertaken a number of investor tours including the current visit to Vancouver, Toronto and London. This presentation has provided investors with the company’s strategy of aggressive exploration and the search for an advanced project including a commitment of $A18m over the coming 15 months in exploration, corporate and business development activities. The company has engaged Azure Capital as its primary corporate advisor."
yeah it definately seems good.. even sounds like a holiday aswell.. 'investor tours' ... is western metal meant to be drilling for uranium and producing metals and oils or are they using shareholder money for world trips.. if so where was my invite..
wow finally some really serious movement - 60 million shares changed hands and its up 5c and its no3 today on the market movers http://markets.smh.com.au/apps/mkt/movers.ac
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so whats pushing price up today - just the whole market with resources & energy etc or something going on we havent heard about yet as the qrtly rept was no more positive than recent ones
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uranium spot price went up $5
now at $85.
this means a lot for most of uranium stocks including wmt, which got hammered before.
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