RMG 0.00% 0.7¢ rmg limited

Here is an interesting high spec stock!

  1. 10,543 Posts.
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    A long time ago (as those that followed will remember) there was a war of words over the collapse of the shareprice of debt collection company RMG as it nosedived from 20c on heaps of bad news about the progress of integration of its various acquisitions.

    At the time I forecast an absolute potential bottom of just 3.5c (purely based on Fibonacci retracements).

    Presuming the company does not go broke (which I very much doubt) there is a really interesting opportunity (imo) to get into this stock in advance of some possible (who knows what) good news that might reignite its shareprice.

    Given the magnitude of the price fall trades in recent weeks have been extraordinarily small and I think the sellers are simply exhausted in line with fib calc's of such things.

    I have picked up a few thousand worth with a stop at 3.0c for if I've completely stuffed up. Its purely punting money.

    Have a look. I would be very interested in others thoughts ?
 
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