I think we have seen the lows for now - I would have expected the tax loss sellers to have taken the 23c yesterday but none did after what looked like the large seller finished. The fact that no more jumped out would suggest it has bottomed. I am not a chartist or TA expert but I dont think in these low volume shares it can pick a bottom until the trend is truly settled. I expect it to settle here until the month end and then we will see - I also expect the share to climb towards the august result announcement.
So I may well have been wrong that there was a queue - I think we have seen the last of the players that CCZ brought to the table and I hope the company has seen the damage they have done to the overall value of the company and really stops shareholder value erosion with the dream of attracting an institution at this stage of its development - That I think is when it has put some goals on the scoreboard and is not less than a $50 m market cap. A good result and maybe 1 large acquisition should see it there in my opinion. They should have funds to do that acquisition.
PGC Price at posting:
23.5¢ Sentiment: None Disclosure: Held
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