Chrysos Corporation Limited

ASX:C79

Chrysos Corporation Limited

ASX:C79
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$7.33 (-1.1%)
Last close price
#56
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11
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Forum Topics C79 C79 C79 Updated Chart, Plan

Pinned straw:
jcmleng
Added a month ago

Discl: Held IRL 8.93% and in SM

Updated C79 chart. Following my new approach of regular trimming of over-weighted positions, I took some C79 profit at $9.98, and so, am now preparing to buy back the sold volume as the C79 price pulls back further. 

  • Since the all-time-high peak of $10.13 on 27 Feb 2026, the price has retraced ~50% on no negative news to $8.43. I suspect it was impacted by negative sentiment around falling gold prices.
  • The price has behaved quite nicely from a technical perspective - the 50% pullback is healthy and not concerning
  • On Fri, the pullback fell into the $8.20 to $8.43 support zone, but closed off lows to close at $8.43, at the top of the support zone - a very nice textbook day move

My updated buy zone is now around $7.60 to $7.80 (yellow box marked with “X”) as 4 things will likely be simultaneously happening there, if it gets there at all: 

  • $7.69 to $7.80 is a reasonably decent support area
  • Retracement would have been more than 61.8% by then 
  • It should be supported by a decently long uptrend line going back to Apr 2025 
  • Is likely to be around where the 200 SMA line will be - usually another good support area.

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thetjs
Added a month ago

@jcmleng with your trim strategy. Do you then look to hold the trimmed profits or redeploy immediately?

or is it all dependant what stocks you’re looking at, at the time?

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jcmleng
Added a month ago

@thetjs, the trimming decision is primarily driven by how "toppish" the price looks. The extent of the trimming is driven by the portfolio weightage - the more overweight it is, the greater the trim. With the market volatility in recent months, I've worked out that I get antsy when a position gets to 10-11%, which is my start point to consider trimming.

I prefer to trim over a few days/week to capture whatever upside there might be before the price reverses. Sometimes I get a better price, sometimes a bit less. If the position has bullish momentum, I will still trim in small chunks, but more frequently and as the price makes new highs, eg. EOS, to capture more upside.

Proceeds from the trim goes into the cash pool for redeployment to whatever else. Buying decisions will be driven by how much cash there is. So the trimming and buying decisions are completely independent of each other.

Have decided to take this approach to ensure I actually force myself to take some profits and minimise wipeouts of paper gains from my previous buy-hold-long-term-come-what-may approach. I have also found that from an emotions perspective, the fact that I have trimmed at higher levels makes me it much easier for me to buy back at lower levels, provided, of course, the dip has been on no bad news ...

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jcmleng
Added 4 weeks ago

Held: IRL 8.62% and in SM

The C79 price action has played out mostly expected this week, falling to the support levels, then sideways for 1-2 days, then falling to the next support level again. It fell deeper below the support zone flagged last week, but the 200 SMA and $7.29 levels have held nicely thus far.

I bought back 50% of the volume I sold 2 weeks back at $7.30, a better entry point than the $7.60-$7.80 level I was prepared to buy back at.

$6.68 to $6.79 is next if the gold price continues to drop and C79 follows suit. Will likely buy back the other 50% somehwere between $7.29 and $6.75 I suspect.

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