My gut feeling is we will start the run this week towards 2c, for the following reasons:
1. There has been massive accumulation since early September, particularly from 1.1c to 1.3c. In October alone, around 118M shares have changed hands.
2. We started to see the accumulator(s) getting more aggressive last week - from memory one line wipe was 8M shares by itself.
3. The sell side thinned dramatically late last week, particularly at 1.4c and 1.5c. This suggests that these asks were 'stacked' to make the sell side look scary and allow further accumulation. The removal of the caps suggests they now have their fill and are ready to let her run.
4. There is now 3.5M on the bid at 1.3c - hard to tell prior to 10.05am but the bids are probably real.
5. Both the company AND the accumulator(s) have every incentive to get this to 2c and avoid a consolidation.
6. It needs to 2c/close to 2c prior to the capital raising - the process for which we know is going to commence shortly.
7. All research by other contributors to the DUO boards suggests that deals are imminent - if you want to get to 2c, you'd start the news flow now.
Anyway, let's wait and see.
DUO Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
