CXBMF Calibre Mining

 
ColdHouse
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Joined: Thu. Nov. 08, 2012 12:06 pm
Location: Bristol, CT

Post by ColdHouse » Thu. May. 23, 2024 4:24 pm

One more thing. I don't think it is headed too much lower. I think it is more likely to go up.
The reason I think this is that there have been a couple of down days where it has dropped from its new 52 week high of $1.70 to today of $1.51. The thing is that the average daily volume of this stock is now over 500,000 shares and today it was only 171,000. If the stock was going to go lower and people were wanting to get rid of it, the volume would have been higher and people would be selling. This tells me that nobody wants to sell at $1.52.
Then we have to remember that CXBMF is buying their own stock back. They are purchasing 30 million shares this calendar year. Obviously they did not buy today. If I were in the acquisition department, I would be purchasing the stock tomorrow while it is low thus raising the market price again because of the volume being purchased.
Basically it was a dead slow day for the stock. Maybe the slowest volume day in months.
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ColdHouse
Member
Posts: 3107
Joined: Thu. Nov. 08, 2012 12:06 pm
Location: Bristol, CT

Post by ColdHouse » Fri. May. 24, 2024 6:15 am

So I figure the new high is $1.82, I think it will meet some resistance along the way. I think that resistance will be at the recent high of $1.70.
I decided that if I can sell today or very soon what I bought yesterday for $1.68, I will be able to buy it back again at around $1.60. So I put in an order to sell those 11,085 shares. Maybe that will happen this morning. If it does, I could but it back again tomorrow or as soon as the funds settled. I think I saw a headline or statement that new rule will allow settlement in one day instead of 3.
Heck if it sells for $1.68 in short order, that would be 10.5% gain from the $1.52 I paid yesterday.
I think this stock is too good to hold and forget about. It is the stock that just keeps on winning.
I think I might nickname it Charlie Sheen!
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Hootyburra
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Post by Hootyburra » Tue. Jun. 04, 2024 9:03 pm

How much lower than $1.40 will it go?
https://finance.yahoo.com/quote/CXBMF/

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