Plain and simple, people were expecting news/announcements in regards to prototypes, distribution, sales etc. It was not delivered today, however, there are still 4 more days to the week, and another 5 next week.
We experienced a retracement which is only normal in every share, and unfortunately stop losses were triggered which exaggerated the decline, it has been oversold. We can now wait and expect a solid bounce.
However, I do see today as beneficial in a number of ways.
1. It knocked out most of the day traders.
2. It allowed for accumulation for the bigger players/brokers but also an opportunity to top up for the retail traders.
3. It brought the share back to a level in which it can now acquire steady growth and an upwards trend. 1 cent per day for the remainder of the week would already bring us to previous highs.
4. Lastly, it reminded me that patience is key. We know the company's prospects and goals (which are already in motion), it is the same company it was at 16c.. It is only a matter of time before we reach new legs.
As always Good luck to all and DYOR.
Sit tight, news in near, see you all at 20c
IOT Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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