GDN 0.00% 1.7¢ golden state resources limited

overbought and over ramped

  1. 35,614 Posts.
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    hi guys

    GDN is showing the typical signs of being over bought and over ramped..(see chart below).

    seems as though some don't see or regard the current position as being possibily dangerous.


    1) no offical flow rates.

    2) no offical announcement saying the well is commercial.

    just because they have had gas shows over previous formations, doesn't mean they are commercial or will flow at commercial rates.

    plus you have the fact it will take weeks before the company can offically say any formation is commercial. and advise the market of stable flow rates.

    instead of reckless posting by people who are just want safe distance from their buy price and current share price, perhaps we'd be better of with some saying be careful.

    as i said before overbought and over ramped, we are in very dangerous waters IMO...

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