–
Potential Buy Entry Alert to Watch WGX
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Key Stats : $895.26 Million Market Cap, VWAP 2.29, ASX Ranking 280, 4 Week Av Turnover $2,686,663, Current Turnover Intraday $2,341,668 (11:14am AEDT).
Company Overview : Westgold Resources Limited’s (WGX) key objective is to build itself as a major player in the Australian gold sector as a pure-play gold producer. Westgold currently owns four operating gold projects. All are located in the prolific gold production belts of Western Australia. Westgold has commissioned and operates four production facilities in Western Australia, the Murchison Gold Operations, Fortnum Gold Project, Higginsville Gold Operations and the recently started Cue Gold Operations.
Broker Consensus : BUY
–
WGX – Westgold Resources
WGX is on the charge today as buyers ramp price higher. Watching to see if price action can pressure the 2.40 zone and then hold another higher low for a run up through 2.60 to new highs. The action looks good but we expect that there is still some work to do and would like to see a lift in the volume as higher levels hold. Earnings are out on 2nd March so may be a false start…unless there is something that we don’t know that someone else does.
–
Stock Code : WGX – Westgold Resources
Company Website : www.westgold.com.au
Current Price : 2.34
Status : On watch for potential higher low and push up through 2.60
–
