Thanks mate. I'm glad someone appreciates what I have to say.
I learning how to interpret graphs and indicators and giving some of my insight into trading (which isn't that long).
Today I did have a sneaky feeling we were going down as volume had dropped off. I chose not to sell and buy back lower which was a mistake on my part.
21c has shown support and it held up well late last week.
I guessed 20c would be the next area of support but there was little resistance which was a surprise. I'm not sure if people were sleeping or having an early lunch!!!
Next support area is 18 to 19c. I would think this would hold as many shares were traded here. Plus If you wanted to sell, you had plenty of opportunites when it was 22/23c. It doesn't make sense now unless you need the money or have got spooked by today's action.
The risk of anyone selling now is that an announcement drops which could propel the SP again. Many who sold in panic or thought there was bad news the other week, most likely regret it now.
There really cannot be a negative announcement as management were very confident that part of the resource would be upgraded to a reserve.
The big players know how to play the market and scare small investors like you and me. They use accumulated shares to push the share price down and hoover up people who sell in panic. Once they have there fill they will push the SP up.
There's 400m shares on offer and only 4m was traded today. Its safe to say the Top 20 weren't selling!
LCK Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
