South China Resources Share Discussion Threads

[figure6] 20/4/2007 08:40

I think the underlying strength here is due to a big buyer mopping up the sells over the last few weeks.Now that the buying has started its taking very little buying from PIs to push the price higher and the big fall over the last 6 months has driven out most of the short term sellers.An added bonus is that there is probably some good news out there that we havent yet heard that motivated our big buyer to accumulate in the first place.We also had a director buying a month or so ago which also points to their being good info out there yet to be made public.

[master rsi] 20/4/2007 08:33

Is on the move up again by 0.25p at both sides after four good size buys
And now the BREAKOUT is on, changing the trend to UPTREND

[simon54] 19/4/2007 21:52

Ah well, t-p, still quite a way to go before I break even! Mind you, the shares I bought back at 4p (having done some risk reduction on the news of SL's resignation) are doing pretty well in themselves...

As you say, we need some news to substantiate a 'new dawn'. I thought the appointment of Dr T was very significant and I look forward to seeing who the rest of the new team may be. Credibility going forward will depend much upon the people involved.

It's a very volatile share, and nothing can be taken for granted without substance (I'm smiling from Rusina Mining gaining 49% today, but know that it might give it all back tomorrow - SCR may well give us further similar thrills and spills).

[strow] 19/4/2007 21:46

THE COUNT-done- hope it helps -at last we are seeing a recovery-there just has to be some substance to this-looking fowards to some news soon

[tippingpoint] 19/4/2007 21:07

Well congratulations to all those on here who displayed more faith than I did. Hopefully there can be some news to back up and support the rise.

Good luck all, I am microwaving my first chunk of humble pie right now

[master rsi] 19/4/2007 16:02

figure6

re- target

The short term target is 8.25p, on looking at the movement that the share price have done since reaching the bottom

[figure6] 19/4/2007 15:43

I just wondered whether your head and shoulders graph "implied" a likely price the share will rise to.I am not a chartist but I noted from one of your posts that the uptrend often went higher than the original starting "shoulder".If this is often the case I wondered if you had a price target.(As I know you trade rather than hold shares).

[master rsi] 19/4/2007 15:21

figure6

re -what sort of price do you see SCR rising to Master,12p ish?

I do not tend to make predictions, as there is no time span aswell, next resistance at 7.125p

[figure6] 19/4/2007 15:11

Last buy at 6.88p,mms want higher and higher prices.We may have risen all we are going to today but 6.5p bid is very near.If we dont see it today then I reckon we will see it tomorrow.

[valentine] 19/4/2007 13:49

Oh come on. It is a major after a stake in Tibet copper mountain!
Danfeng is a tiddler by comparison now.
The visionary's of the big co's who made a fortune in Chile in 70's and 80's are now casting their avericious gaze over Tibet and it untouched acreage.
Danfeng and Moly would be a nice bonus at this stage but I think Tibet and JV's with Canadian mega-co's is what all about now.

[wolstencroft] 19/4/2007 13:46

I am sure that moly is still a possibility

[figure6] 19/4/2007 13:15

I also wondered if the moly play here is still a possibility.Theres evidently a large Canadian fund buying shares in any mining company that is/could mine molybdenum.MMs on the run here,if SCR breaks out over 6.75p what sort of price do you see SCR rising to Master,12p ish?

[master rsi] 19/4/2007 12:55

Is going on the right direction, and still keeping the spread large, now close to the BREAKOUT for change of trend 6.75p

Could do two BREAKOUT at the same day

[valentine] 19/4/2007 12:40

Natwest bid 6.38p.
I wonder if that stakebuilding whisper involving Toxic Bob and his Continetal minerals cronies has any credence?
Happy I held onto a few now!

[krazykid] 19/4/2007 11:32

Sorry Master, I was up unexpectedly at 5.30 this am, after hitting the pillow at 2.00ish so after posing my question and topping up anyway, i popped back to bed :>)

thanks for all your charts and info

go SCR go go go......................

[figure6] 19/4/2007 11:21

MMs definately on the run here.I thought the bid would have risen to 6.25p by now but it seems the mms are more concerned with stopping the buying than encouraging some selling.This low bid wont last long if theres much more buying though and I reckon the mms will fairly quickly move from 6.25p bid to 6.5p bid in the hope of enticing some sellers.

[master rsi] 19/4/2007 11:10

YES and NO, they have moved the offer to 7p and now a full 1p spread

pretty disgraceful of the MMs, but they know is on the UP, and they do not want to give it on the cheap

[figure6] 19/4/2007 11:07

Last buy (44k) went through at full ask so I dont reckon the headline prices (6p bid 6.75p offer) will last much longer. The mms are needing sellers so a bid rise may be next.

[master rsi] 19/4/2007 10:53

figure6

The volume is picking up as the buyers are there, pitty that the MMs are playing games with the large spread ( allways puts off investors) but looking on the bright side the spread is smaller online 6.13 - 6.61p ( from 6 - 6.75p) and if placing a limit to the broker, one can get 6.25p for selling and 6.50p for buying

[figure6] 19/4/2007 10:20

100k buy at 6.7p means the bid and offer will be up soon.....6.25p bid, 7p offer

[master rsi] 19/4/2007 10:19

The BREAKOUT from the neckline has already occured @ 6p, but has not reached the point of changing to UPTREND till about 6.75p or so