Short Term Trading Weekend Lounge: 10-12 May, page-14

STTCOMP THC TA LONG

134.745mill SOI
$4.470mill at bank at end of Q1.
$66.75mill mcap

Recent spp just closed 6th May with raise price of 50c, raising $2.98mill. Directors participated. So healthy cash balance. With Q1 unaudited revenue growth at 22% on Q4 last yr.

Recent volatile selloff with price well below lower BB for last five sessions and is well below recent spp raise price. Selloff is over extended imo and volumes falling off sharply. 43c seems to be a decent support level and I would expect shares to bounce or at least pause here as Stoch is offering slight bullish signal and momentum appears to be shifting to the positive once again. First exit target would be 50-53c on any bounce. However, on an 'extended bounce' this might even test upper BB and breakout is possible imo. Some sideways movement perhaps near term before any significant reversal.




Weekly shows significant BB squeeze along with price trading below lower BB also further indicating selloff is 'overdone' and sideways movement or reversal is likely here. Weekly Stoch still 'bearish' as K% hasn't turned to 'cross' but still in well oversold territory again indicating the bulk of recent selling is probably slowing or close to finished. Weekly also showing 43c as good support level imo. Bounce very likely from here imo but DYOR.




Similar setups in the past have seen some significant shorter term reversals (blue arrows).