MGX 0.00% 30.0¢ mount gibson iron limited

Last chance under 90c, page-48

  1. 179 Posts.
    lightbulb Created with Sketch. 25
    I am kind of inclined to agree with you Tokyo. I thought it may have stalled at high 80's but the slice through into the 90's has been strong and suggests it certainly wants to test the $1.00 mark.

    First up it needs to move beyond $0.93 which, looking at the weekly charts, has been a strong resistance point on a number of occasions in 2012, 2013 and 2014. If it does chug through, $1.20 does seem to be the next stop point on the charts.

    I still think though that what we are seeing is the start of a longer term re-rate of the stock. Depending on their use of the cash stockpile and dividend decisions, this stock certainly has potential run into the high $1 mark and possibly even over $2 over the next year or so (particularly if they use the cash pile to develop another leg to their business beyond just KI).

    GLTA & DYOR
 
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