From a TA perspective we are at a critical cross road. Either the latest pump from 3.9c in mid August is proved as a "fakeout", and the price crashes below 3.9c to the 2c low we saw in June... or..... this latest drop is a retest of the old supply line, and the price rockets upwards.
As many say, price leads the news. If the share price falls below 3.5c I'd take it as a huge red flag that results are poor.
IMO management believe results are bad otherwise they would have waited until results are released before completing the capital raise.
Too risky to enter here before the new direction is confirmed, but we are certainly at a point where many chartists will set alerts.
2022 CHART THREAD, page-676
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Change
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Mkt cap ! $1.805M | |||
| Open | High | Low | Value | Volume |
| 0.1¢ | 0.1¢ | 0.1¢ | $2.287K | 2.286M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 5842246 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 20411806 | 31 |
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| CNJ (ASX) Chart |