ADY 8.33% 2.2¢ admiralty resources nl.

why would you expect a pullback.?, page-2

  1. 448 Posts.
    Its still a good 20 days away, thats a long time in the market. If no news comes out to sustain this higher price then you would have to expect a bit of a retrce. Which it has, back from 16.5c and now testing 15c really. Depth has become a little weaker as traders and props move out but still looks quite solid. If nobody dumps into to it to force it down then ADY should continue heading north. It will still require news at some point to sustain the movement otherwise it will just retrace. I think this move is not based on any insider knowledge. The last good announcements for not pre-empted by any sp movement and then we gapped up on the good news. I think it is more a realisation that we are coming into September, the first months ear marked as possible plant deliever and JORC drilling could also be completed, hopefully proving up a bigger resource than the 41Mt/38Mt in ground.

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