Don't think that is the case at all in my opinion.
This rise has been predicted months ago from numerous regulars of this thread, including myself. For those late comers, we discussed how we were trying to accumulate and get ready for the anticipated drilling campaign in Litchfield after the wet season. That time is now upon us and the share price is starting to react to an impending (potentially) company making discovery in the Bynoe as well as the bonus of expected results from Percyville and Croydon Gold Projects.
It was kind of a no brainer to be honest. I've actually added more last week and this week now that there's a bit more supply.
Tomorrow will be the tester and may be a good opportunity for those looking for an entry as I expect T2 traders may want to close out before the long weekend.
There's a lot of potential here when you look at the success of Monax's neighbours and the kind of soil that goes with the region (spodumene intersections). Take a look at some of the recent announcements of MOX and of CXO and KSN and you'll get the picture.
In terms of technicals it's looking very healthy. Volume is the highest since Oct and MACD is happily rocking away in the positive.
Would prefer it doesn't burn too fast and get away from us as it will make it too volatile but it's nice to see everything play out as expected so far.
