RE:RE:RE:Further Thoughts on Valuation Stockwatcher: unless you're using GSP as a trading vehicle, I feel you're giving too much credit to day-to-day price movements, both up and down. (And with relatively little volume and large spreads these past two down days, I sure wouldn't want to be trading this one.)
However.....I think we can say a few more general things about the recent trading action:
-> Volume has picked up, with shares already registering the highest weekly volume in 2022 as of Thursday's close.
-> Volatility has picked up, with the highest and second lowest RSI readings of 2022 recorded over the past 2 weeks. Or in layman's terms, the stock is on the move, with a 90% 6-day gain, followed by a 55% 3-day retracement.
-> Yesterday's move down closed the gap at 21 cents created in the up move, something I was glad to see if we are going to continue upwards.
-> Spreads have opened up, as large as 2-3 cents during the trading day, with small quantities on the bid/ask. So even moderate buying or selling can move the stock 10-15% here.
Fundamentals will ultimately determine the share price for GSP, as with all companies. But for now, especially when GSP trades around 100k shares for the day, we might consider the action to be influenced more by short term traders than anything else. Note what happened when a real buyer from RBC stepped in with $1mm or so the past few weeks. Hopefully, as the Tugaske Project moves ahead these new few months, there will be more participants basing their participation on the value of the mine, rather than the direction of the trend.