A little more descriptive on my behalf was needed on my original...

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Anacott Steel

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01/08/16

17:19

Post #: 18418892
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Originally posted by Jaded ↑

Anacott the charting has been changed from historic prices to adjusted for rights issue available to all shareholders. It's a TA "thing" that I find very difficult to justify/explain to non chartists 'beginners'
but here's the changed chart.
View attachment 213906
note high priced 'down' from the 30's to the 20's. note also the early june sp 'spike' to 17 ish on the first broker report has been dropped to 12 when historically from about October last year BSM was trading 9/15 cents.

So don't see a Double Top on any current chart "version". Everyone remembers what they Historically Paid and historic price moves BUT TA/the Chart gets adjusted to take in the market dynamic of such a capital base move as this proposed 1:1 to everyone Rights Issue.
It is assumed everyone takes it up their full allocation and thus projects what their new break even is or some dang thing.
Anyhow I disagree, think Historic not Adjusted should stay but Charting Programmers insist on applying this Rule/quirk as a complication.
Anyhow that first Patterson's report in early june should have been on a par with the later presentation. It wasn't, it was dull when it should have set the 'parameters' for the CR in LATE June.
I must say though that at least the CR was to have all shareholder participation not an Issue to the "mates" exclusively and as per usual.
Anyhow I await some explanation by Mgt and am particularly concerned if the Record Date is adjusted from that initially announced.

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A little more descriptive on my behalf was needed on my original post, I was referring to the intraday trading from .012-.032, pulled back some and moved back to the .030 range in the afternoon when Mgt pulled the plug so to speak,
But hey, key purchase of an operating mine is at stake, always small bumps on any journey, with the big picture over the next few yrs looks interesting at the least.

BSM Price at posting: 1.5¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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