Prior to the recent Q1 I suggested the potential for a "whipsaw" following that announcement ... but I spoke in terms of a possible initial downwards movement followed by upwards. I also opined only in terms of the Q1, not any additional subsequent announcement/s such as this.
Nevertheless the current chart shows a mild "whipsaw" - although firstly upwards then downwards ... the reverse of what I'd suggested. BTW, any FX traders amongst us would know what a decent "whipsaw" looks like!
Bell Potter's reported recent 22c guidance update may limit the initial pressure on our SP following today's announcement for which there seems to have been little foreknowledge & therefore little or no prior planning.
EVS Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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