RE:PVG very oversold on the daily charts ..PVG appears to be holding strong at $7.30 usd today with a huge battle going on. Lots of stong support on the bid side right now. Any drop below $7.30 is just temporary.
allenbow wrote: Personally I've been out of PVG for almost a year, not that that matters to anyone, but today I bought back in. WHY?
FWIW, I believe the bad news is now pretty well discounted and priced in; the charts look like a mashed can of worms, and describing extremely oversold conditions.
Yet the company will still generate incredible cash flow even at lowered grade expectations offset by the higher price of gold, and is followed by the majors as a possible buyout candidate.
The risk to me is on the short side as any discovery of higher grade zones will surprise heavily to the upside. That is statistically probable.
Investment houses have targets substantially higher than today's price, and there is a huge overhang of short positions that will have to cover.
So I bought today. FWIW, and not investment advice. GLTA.