Technical charting

If the unthinkable happens & the share price comes under pressure as a result of further delays in obtaining approval, a technical bottom could provide an excellent entry point to add to existing positions.

The November 1 high of $1.165 to the next low on November 26 of $0.87 is 29.5 cents. Call this 29.5 cents move an A wave.

The B wave from $0.87 to the December 12 high of $1.12 is 25 cents.

The anticipated C wave is often 1.618 X the A wave. In this case 29.5c X 1.618 = 47.73 cents.

Deduct 47.73 cents from the B wave top of $1.12 & the answer is 64.27 cents.

The 64.27 cents coincides with the June 28 low of last year of 65 cents.

I would suggest that the 65 cent area would be an excellent area to make a positive increase to your holdings.

I am not suggesting that the share price will get there but if it does then you should be able to buy with a certain amount of confidence.