Seven years is a long period to do TA on an spec explorer to producer isn’t it GN? Lots of movement on expectation, success, failure, surprises, uncertainty, gold price, investments, divestments. It’s never had a chance to operate on a fundamentally consistent mode.I've been watching RED for a while but it's chart is a bit of a mess I can't quite get my head around. The high volatility over the past 3 years is my biggest worry. Elliott Wave says price could be on Wave 5 - which is good (if it is). EW can be problematic with miners. Price is in a falling price channel but approaching the top boundary which might turn price down as it has before. If it breaks higher then significantly higher prices would be expected. I have a current target of $0.35 but haven't bought in for aforementioned concerns. Probably not a good time to buy anything at the moment, but with the drums of war beating in Ukraine if anything is going to move up - I'd expect it to be gold. However, US down again overnight, our futures suggesting a troubling day ahead and gold flat overnight - I think I just keep sitting on my hands for now.
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And i had RED shares was it 10y ago, when its key assets were in a Philippines jihad insurrection.Seven years is a long period to do TA on an spec explorer to producer isn’t it GN? Lots of movement on expectation, success, failure, surprises, uncertainty, gold price, investments, divestments. It’s never had a chance to operate on a fundamentally consistent mode.
Agree about sitting on hands right now. I think TA mostly gets thrown out the window during times of hyper fear and volatility.
By my observatinos the price action has done what is expected during the resource JORC and then period between that and the mine development and eventual operations commencing.And i had RED shares was it 10y ago, when its key assets were in a Philippines jihad insurrection.
While i have been in and out based on systems,RED for me is the perfect .but not alone example of shareholders milking factory, perpetual junior, perpetual capital raising,directors bonus and wonderful Releases
Yes, spec explorers and miners in general can be tough to predict - but not impossible as all those movements you refer to get reflected in chart movements and build up a picture (even if it is a bit muddy).Seven years is a long period to do TA on an spec explorer to producer isn’t it GN? Lots of movement on expectation, success, failure, surprises, uncertainty, gold price, investments, divestments. It’s never had a chance to operate on a fundamentally consistent mode.
Agree about sitting on hands right now. I think TA mostly gets thrown out the window during times of hyper fear and volatility.
a pretty credible chartist / TA mentioned RED in the context of approaching fully priced on NPV, they're from ThinkMarketsYes, spec explorers and miners in general can be tough to predict - but not impossible as all those movements you refer to get reflected in chart movements and build up a picture (even if it is a bit muddy).
a pretty credible chartist / TA mentioned RED in the context of approaching fully priced on NPV, they're from ThinkMarkets
Good morning peter2King of The Hills is now operational and has delivered it's first gold pour. This should improve the outlook for RED.
The share price has stopped falling. A rising gold price would provide additional support.
Selected for the Aug 22 comp as price looks likely to bounce higher.
Continued talk about consolidation of the gold projects in the Leonora region (WA).
CMM (+DCN) + SBM + RED
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