Agreed, selling now would not be a good idea for the short term in my view.
As I said a week or so ago, I am expecting the price to go higher from here to about 12 to 14 cents due to the announcement of the JV and believers seeing massive value.
Then soon after that, a combination of the coming end of tax year and people will realize that the JV doesn't mean that revenue suddenly appears and reality will set in. Price at this point will drop again to the current or lower levels.
There is some profit to be made over the next 4 to 5 weeks I reckon.
After that it will be time to wait until the next buying opportunity.
Monthly Chart, page-272
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Last
3.8¢ |
Change
0.001(2.70%) |
Mkt cap ! $183.3M | |||
| Open | High | Low | Value | Volume |
| 3.8¢ | 3.8¢ | 3.7¢ | $101.2K | 2.689M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 56 | 9149793 | 3.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.8¢ | 144620 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FBR (ASX) Chart |