IHL (ASX) Ann: First Key Appointments to Medical Advisory Board

Originally posted by andres: ↑

Great post Tradingformils. IHL has been running very well largely to rerates and when the SP goes sideways a bit (which pretty much all stocks do - even the very strong ones) then the trend line catches up with it and weak hands think the stock is in trouble.

If you look at Afterpay, (APT) it did a similar thing - it just means that a stock has to rest a bit and chart lines will catch up with it. Afterpay has continued into blue sky by the way.... Paincheck (PCK) another example - it "rounded off" as consolidation is a horizontal fractal phenomena and trend lines angle up (or down). Memphasys (MEM) as well. Just to make the TA point. All of these are on track - but you can see the shakeout points clearly on any chart.

If there is bad news and you see a break on heavy volume then yes, better be vigilant. But what we are seeing here IMO is low volume, and in fact we have had great news over the last week or so. (well the last few months really). When the market slows - macro concerns etc... or the stock consolidates then we get these fractals occurring naturally due to geometry.

Of course it is a good buying opportunity for many.

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We're way oversold lol, based on how the sector is doing its doing the same.
Literally all positive news, still undervalued to peers and well... nothing negative has happened since the day of the oils supply agreement.

I suspect that we will have a santa rally this year especially going into the 2020 election for macro reasons (i.e The Donald) if the market doesnt collapse before then.

BOT is the market leader in Aus, make no mistake. They are going to have results out for their latest Phase 2a trial soon... likely this month or next.
I also suspect that the reaction to their ann and progress will renew the wave into the sector, because at the moment the hot money sure as hell isnt here. Now the smart money on the other hand.... Interested to see the data for last week as the week before showed Top 3 Pros buying in the low-mid 8s and retail panic selling either stale holders, impatient holders or just emotional and sheeplike.

Bios as a whole still hot, PAA has done really well. Hope that sentiment can carry over back into the pot sector especially in the ones doing clinical trials for a resurgence late this year. That's my prediction.