RE:RE:RE:RE:Any opinions on support level? Timing?Yeah I noticed that a new support level had devolped on the 1 Day chart when the share price bounced at $11.62 after my first post but the line is thin so i gather so is the support.
If you switch to the 1 Week chart the stronger support sits at $9.61 but it would probably require another catalyst to get back down there. IE another natural gas and oil dip. You can also cleary see on this chart that ascending wedge which after being rejected by the resisitance at $15.85 shoved the share price down and out of the upward price trend. I am not sure how many of you take technicals seriously as share price predictors but more and more I am starting to trust the patterns.
I too thought that perhaps the share price would avoid the spring dip again this year as it did last year but here we are.
Kudos to you on grabbing up more at this lower price at I really believe you can't go wrong and the share price will see the $20is range by the end of the year. A nice gain even from here.
My poor math skills have told me that at this price it is not worth reinvesting my dividends at this share price because of my commission fees so if it doesn't dip I will wait and accumulate more dividends and add them to next years TFSA contribution and buy on a dip then.
GLTA
Yasch22 wrote: That's interesting, Quintessential. You said that support (a.k.a. rock bottom?) was $9.70. Then the link you sent earlier today had three different support levels for short term, mid-term, & long term, as well as three modes: bearish, neutral, bullish.
Anyway, I decided that $12 was low enough for me to add some today. That was close enough to the "short term + bearish" support line of $11.70. I'm going to trade this added position, though, so we'll see how that works out. I have a bit more dry powder I'll probably put to use -- like you -- if the sp hits the lower support of sub-$10.
I felt I was too passive when some of the warning sirens started blaring. E.g., our Feds finally taking inflation seriously, and then the Russian invasion, which means even more government spending, more government buying of their own bonds, & more inflationary pressure. All of that ultimately leads to some sort of recession.