Am long, and got slaughtered today. Very depressing. With the benefit of hindsight the massive Bearish Engulfing Bar of week 18 Feb should have been a signal, not to mention a double top, with the upper shadow of that candle rejecting the prior high (week of July 28) of $5.28. See chart below.
And if I was permitted to short (which I'm not permitted to do with CommSec), what about it?
People DO have to understand that shorting is a legitimate practice, and stop blaming them, stop blaming anyone (unless there is obvious evidence of corporate malfeasance).
Blaming others for financial loss is not a useful practice, but is endemic to many HC users, day after day, week after week, year after. I've seen it since 2015.
Which is one reason I left the site a couple of years ago.
Oversold?
At this point technical analysis is useless, except for one thing - you have to respect a massive red bar like the one of this week (which is almost complete, the week, that is). This is not a "flesh wound", from which there will be an immediate "V-shaped" recovery.
This fall is based on fundamentals, business practices which have failed (if anyone bothered to read the Announcement).
As I said before, there may be a DCB on Monday, or later in the week, or there may not. If so, depending on where folks got in, it's a chance to get out with reduced paper losses.
Anyone who is badly underwater - as I am - has to understand they are now in defensive mode.
It's no longer a matter of how much you can make, but can you loses less. The pain will still be great, but perhaps less than it is at the time of writing.
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21.0¢ |
Change
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Mkt cap ! $171.7M |
Open | High | Low | Value | Volume |
21.5¢ | 21.5¢ | 20.8¢ | $551.3K | 2.624M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 52999 | 21.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.5¢ | 171494 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 0.210 |
12 | 784001 | 0.205 |
32 | 1079130 | 0.200 |
16 | 786438 | 0.195 |
20 | 359710 | 0.190 |
Price($) | Vol. | No. |
---|---|---|
0.215 | 166664 | 2 |
0.220 | 30000 | 1 |
0.225 | 167974 | 6 |
0.230 | 572984 | 8 |
0.235 | 385000 | 4 |
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