AJX 0.00% 0.8¢ alexium international group limited

AJX Charting, page-366

  1. 3,312 Posts.
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    For this to start heading above 1 dollar, there will need to be a lot more volume.

    Most people who were happy to sell under 80 would've been shaken out over the past 2 months (hence low resistance up to 75-80). Once this hits above 80 there will be a whole bunch of sellers who bought in the 60's or so who are looking to lock in some profit.

    The good thing is, a positive run up like this makes all the positive FA 'seem' more positive. People interpret good news as amazingly good when there's been a run up. People conversely interpret positive news more poorly when a share is in a downtrend.

    Hopefully the TSCA and a positive quarterly will lead to a continuation of this trend.
 
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