I am at the cross roads when deciding whether to buy more RIV or hold off for lower prices.
I think RIV are a great mid/long term investment. The recent announcement of a new 1.7 billion tonne resource, along with the fact that BHP have stated they are interested in buying into big global projects, suggests RIV will get a re-rating at some stage. On the other hand, Talbot is under ASIC investigation and may go to gaol, and is supposedly miffed by the decision not to allow him a place on the board, and is therefore rumoured to be selling enough stock to suppress/drive down SP.
So I am keen to turn to the charts and see what they suggest about an investment about now..... the 12 month chart appears to a lay person like me, to be approaching or even hitting support levels here in the low $5s, so it could be a great time to buy, but a brake below $5 could see $3-$4 ... what to do.
can I please have a chartists view here .... many thanks in advance ! :-)
RIV Price at posting:
$5.23 Sentiment: Hold Disclosure: Held