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SLX 26.5¢

showing some resilience

  1. loric

    2,117 Posts.

    SLX yesterday gave back 18c of the 37c gain it had made in the previous three days (55c to 92c back to 74c). basically 50% which is one of those great Fibonnacci numbers.

    it is showing some resiliance today and is currently up 5c to 79c. volume is getting lower each day. the 18c loss yesterday was on half the volume of the previous day where it went up 15c. today's vol looks like it will be a little lower than yesterday.

    this indicates to me that SLX could settle in the low to mid 70s before the next (hopefully positive) announcement. and also be the first sign that its rerating by the market is on the way.

    people's views?

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