Agreed wholeheartedly. If you want to predict sp you are far better off valuing on fundamentals. The trading pattern 'shapes' always seem to explain better in hindsight - ie once the shape has formed. If it goes down it will be a H&S if it goes up it will be more of a staircase. Either way people will be looking at it after the fact and saying "that was a classic example of a ...... anyone could have picked it".
mak is absolutely correct in saying that the upwards movement is the likely scenario since the company is moving from cash burning to cash flow positive over the 3 year period so it will of course be valued more now and in future than before. Easy.
AJX Charting, page-735
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Last
1.0¢ |
Change
-0.001(9.09%) |
Mkt cap ! $15.73M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.2¢ | 1.0¢ | $4.212K | 408.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3043885 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 450000 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| AJX (ASX) Chart |