Coming from a base of 4c, hitting a high of 13c, and trading as low as 8.3c and closing at 9.1c, has the short term selling tide ended?
Lets have a look, 13-4 = 9c 13 - 8.3 = 4.7c
Hmmm the retrace is roughly a 50% pullback from the previous high of 13c and the low of 4c.
If this little baby can open and or close above 9.1c on Monday then it could signal a continuation of the trend, which in this case is up.
fundamentals for this one seem sound, chart is ok.
I am fairly comfortable with my small holding, may add on Monday if the price is right!
Only concern I have is whether they can transform all these signups into profit. Until the money is on the table, then I think a lot of people may be hesitant to hop on. However when they do anounce that they are meeting their schedule of a nice profit for 2004, it may be too late to hop on. On the fip side, if you have the shares and they release an announcement that doesnt meet with their original estimates, then it will be too late to get out. Gee this share trading stuff is hard. :)
