latest action

Hi all

Its been a while since I posted on BPO… but things are just starting to happen.
Well the stock was accumulated for almost 5 weeks before breaking out above the 10c level, and a new base is being formed at 12c, which is where we closed last week… and today.

The patent application announcement was excellent IMO. One small step to sure up the long term future of the company. The market reaction… well pretty good when you think that it has pretty much held its gains since that day. There has been a tendency in the past to have non-Qcide and non-financial announcements send the price lower… this did not happen here.

It is also pretty obvious that the 5 weeks of accumulation was not in anticipation of a patent announcement, as Qcide is clearly the focus of the marketplace.
I see the following pieces of news still outstanding:

1) Qcide trial results
2) Qcide commercialisation/collaboration deals
3) Ap778 commercialisation/collaboration deals
4) Ap778 trial results
5) Purchase of cashflow positive company
6) Further deals surrounding commissioning of plant extract library
7) Hep C trials progress report (this will still be 9-12 months away though).


From a technical perspective, I see the following price targets:

1st target - 13c. The high of last week was 12.5, so a move to 13 will see a new short-term high.

2nd target - 14c. The highest close over the last 12 months has been 13.5c on the 22mill day. A close above this will indicate a new high level that people are willing to take home positions and hold them overnight.

3rd target - 15.5c. The high on the 22mill day was 15c. Significant resistance is at this level so a break above this price will be VERY bullish.


Most important is the weekly chart, and where we end up for the week. A close near the highs of the week will be very bullish, whether that is 13c, 15c or 20c.

While the depth doesn’t look that healthy on the close, all of the action today was at, or above the close of Friday. The fact that volume was over 1mill to me indicates that people in the know are still buying in anticipation of expected higher prices.

Now all that remains is for that for come to fruition.

Time will tell…