The low on August 30th 2016 was actually 46.5 cents - today 47 cents. No holders expected this outcome from the 4C, maybe a bit of selling into the announcement as usual but someone has decided otherwise for whatever reason. People are understandably disappointed and thrashing around blaming Alexium for everything except the bubonic plague but nobody knows what is behind the extended selling - could be about expectaions and results but just as easily be a heavy or two cashing up and nothing more sinister than that.
It isn't a great picture right now but anything can happen. It appears that the core of the selling is coming from a few brokers as it appears from the reports with about 1M over the 26th and 27th coming from ITG, CMC and Bell Potter. They can't keep it up without driving the SP into the ground and I find this hard to believe and that they will keep this up for too long.
I have posted two versions of the weekly below, one going back to the original breakout in August 2014 and the second covering approximately the last 18 months. The first obvious potential is a 46.5 cent double bottom, hard to say - right now looks a bit shakey but is in prospect if the selling dries up. The second is the key swing low point on May 29th 2015 of 44 cents which is in the frame but who knows, maybe the sellers will run out of puff tomorrow.
Weekly Long Term
View attachment 564450
Weekly 18 months
View attachment 564453
