Considering it is a charting thread, then surely the chart speaks for itself at this stage.
From the. 1.3c low, the company changed directions and thus the initial interest. Hype from the company and HC lead the crazy, early share price spike, and since then it has been in a significant downtrend.
Breaking the 2.5/2.6c support level shown on madam's chart was crucial. A clear indication things weren't looking good.
The current share price of around 1.6c puts it firmly back into the pre-pump price range, although realistically, the market cap is much higher. 1.3c should be the new support.
It's only good buying at this level because it looks cheap. Whether or not it actually is will depend on how wisely they use the remaining cash, and how close they are to achieving significant revenues.
By the look of their salaries and admin costs, we can rule out the first option.
Those who have more understanding of the business and its various arms might be able to help me with the revenue aspect??
The last quarterly detailed nothing against revenues....is this expected to change soon?
I love a turnaround story....such great gains are possible. But I hate catching a falling knife, or entering a long, slow bleed.
Telling the difference is often very difficult to due to the often over-inflated expectation of both management and many longer term holders.
I'll probably take a punt at around these levels, on the basis they gain this award, or at least get some industry recognition from being in the running. If I can be convinced of some inward cash flow, I'd go in big.
Btw....the chart reads as a perfect example of the 'anatomy of a pump and dump', including the way posters have responded throughout. (YouTube it if you haven't seen it).
I hope they can deliver for the multitudes who must be stuck in this company hoping. And for a good turn around story
