RRL 1.16% $2.56 regis resources limited

Eshmun, if you look at the (daily) OBV chart for the last 6...

  1. 3,000 Posts.
    lightbulb Created with Sketch. 455
    Eshmun, if you look at the (daily) OBV chart for the last 6 months you'll see that most of the change in OBV occurred in two steps. On 18 December there was the massive block trade by the GDX buying ~30 million shares. On 10-15 March there was the selling of Newmont's 100 Million shares into the market just at the same time the GDXJ/GDX rebalance was causing shorting of the gold stocks (check NST and EVN over same period).

    I don't think you can draw any major conclusions using OBV. NCM might be a good buy but its peer group is more on the international side.

    I'm neutral on RRL at these prices and sold 3/4 of what I'd held from $1.20. I don't think there is any major downside pressure likely while gold holds above US$1200. Even with the Australian dollar rising the share price has been pretty resilient. The Newmont stake might take a couple of months to be absorbed into the market still.
 
watchlist Created with Sketch. Add RRL (ASX) to my watchlist
(20min delay)
Last
$2.56
Change
-0.030(1.16%)
Mkt cap ! $1.473B
Open High Low Value Volume
$2.60 $2.60 $2.54 $4.403M 1.716M

Buyers (Bids)

No. Vol. Price($)
7 94933 $2.56
 

Sellers (Offers)

Price($) Vol. No.
$2.57 35564 3
View Market Depth
Last trade - 16.10pm 29/11/2024 (20 minute delay) ?
RRL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.