This stock is very overbought & keeping on getting more overbought as the price is moving higher with out any pull back. This stock has not cooled off yet. This is the only concern I have with this stock. When the commodity price is moving higher technicals take a back seat. Now the analysts are saying that with production cut in South Africa there could be shortage for the product & better prices. It has hit a three month high today. Now have to monitor the price movement.
I had plans to accumulated lot more shares than I have but the stock has been inching higher since Dec with no pullbacks. Never got a chance to have the number of I shares wanted at the rock bottom prices. In hindsight should have picked up one big block. Buying in stages was a bad idea. I tried flipping some of the shares but was not able to buy them back cheaper in most cases. Some at same price or .05 to cent higher. Trading so far to reduce my cost of holding has not worked. Sometimes things do not pan out according to plan. I am still happy with the increase in share price.
The main driving factor is the commodity price. I have to again look at the balance sheet of the company as compared to the present commodity price & the beak even point.
The chart of the stock is improving. It has made a very solid bowl shaped base. The price has crossed over 200ma still the the gap between 50 & 200 is too big. Lower averages have to do lot of catching up. The chart is making a nice shaped cup which will be completed at $.42 then it would require a handle & consolidation then you make expect much better prices. I think all depends on the price of commodity. This stock is a commodity play.