DRDGOLD Ltd. Message Board
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Hey Flint - OT
You know I'm not a great chart reader, and I believe you are, so I've got a question about the chart pattern of ITS.
Would there be any significance if the stock closes at the same price for 4 days in a row, remains above support, as well as being near an end point of the pennant? From a technical perspective, might that imply the pattern is almost completed, or IS it completed?
There's a breakout coming, so everything I see in that chart now makes me wonder how close it might be. Hoping you can satisfy my curiosity, if possible - and thanks in advance.-
I am not a great chart reader. But I can give you my 5 cents.
Long term: This chart doesn't go far back enough, but on the TSE you can find a chart that goes back 5 years and it shows a huge tremendous bowl of which we are now drafting the handle:
hhhttp://stockcharts.com/def/servlet/SC.web?c=ITS.V,uu[h,a]dacayiay[df][pb50!b100!
f][vc60][iut!Uah12,26,9!Ld20]&pref=G
BTW the high in 1999 was very close to the recent high of 0.49 CAD. No wonder it stopped right there for consolidation. (Can you say neckline?).
SHORT TERM: We were oversold and have turned around on the stockastics chart. MACD still needs to turn, that will be our signal for higher prices.
In the mean time volume is in good shape. We decreased volume to below 250K shares per day after selling off from 0.49 to 0.38 (20% drop). We put in a double bottom at 0.38 CAD Cents and are mounting higher on a little bit increasing volume.
hhhhttp://stockcharts.com/def/servlet/SC.web?c=ITS.V,uu[h,a]dacayiay[dc][pb50!b100!
f][vc60][iut!Ua12,26,9!Lp14,3,3]&pref=G
Today's volume is not encouraging (currently 232K shares, but it is fine as we put in a lower low again today (0.38 again) and are trying to close above )0.40.
The increase from 0.25 to 0.49 happened fairly quickly (96% increase within 2 weeks?) and we have put in a correction of 11 Cents/24 Cents = 46% of the move.
On a penny stock like this with low volume this is close enough to 50% and should do.
This stock could easily get 1 to 4 Million share trading days if it gets going. The float is big enough and the price is fundamentally ridiculously low. The problem is a little that is a Canadian stock that only has a pink sheet mirror stock in the US.
They should upgrade to at least a BB symbol.
In the mean time nothing wrong to accumulate. BTW check out the money flow.- 1 Reply to flint5821
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Flint,
Many thanks for those charts and your take on them.
Curious about where you get your high/low for the day. The TSE shows .40 as the last trade at 2:30. Also shows 258,800 shares traded, a high of .41 and a low of .40, meaning even for the day. I didn't see a .38 low, and noticed your message was posted at 2:15.
For a bit longer term look, you might like to see smsc's chart. He's active on the Gold-Eagle forum, and put ITS on his favorites list back in December, but hasn't updated it since then. This one shows the stock close to $2 CDN in 1997 before gold started dropping - and don't drool when you see his channel lines.
http://stockcharts.com/def/servlet/SC.web?c=its.v,uu[p,a]mhclyyay[d19921207,2004
1231][pb50!b200][vc60][iuh5,5!ui10,10!ua5,34,5!us5,34,5][J22371295,Y]&listNum=8
As for upgrading to a BB stock, the management said in late 2003 that they're working to get a listing on the Ameican Stock Exchange. The goal is an AMEX listing by Springtime, if I remember correctly. Hopefully could provide a boost.
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They represent the same company, they are not the same stock. Just another vehicle on another stock exchange.
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Are you saying that, if you bought a share of ITS.V and a share of ITURF.PK and took delivery of the stock certificates, they would be "different" certificates (other than serial nos, etc)?
TIA -
yes
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I posted it today, a copy of the trades with that 0.38 included...
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But Vancouver is still much preferred than the pink sheets.
The way a company gets in the US at the least cost is they buy an old company stock listing and the underlying shares declared and change the symbol. Than they trade that stock as a ownership representative shares. They have to declare oustanding stock on their balance sheet as liability, but it is a different liability than the stock traded on the "home" exchange. If you want to spend more you get on the AMEX. -
Whoa Danaa! You appear to be contradicting yourself. First you said they were the same stock, now you're saying that you agree with Flint that they are "different" stocks for the same company. That's not the same as a stock being traded on simply different symbol numbers. Can you clarify?
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How much risk is associated with a market order for ITS.V? I put in a limit order today, but no fill. How bad is the scalping on a small order? TIA
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May I ask what your limit order was? I got filled on two different occasions with limit orders. Obviously at lower than 40 cents CAD there was no chance but 40 should have given you the shares...
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My order was at .31 US for a mere 1000 shares. Near as I can figure, that .31 = .40 canadian. What gives?
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