If the unthinkable happens & the share price comes under pressure as a result of further delays in obtaining approval, a technical bottom could provide an excellent entry point to add to existing positions.
The November 1 high of $1.165 to the next low on November 26 of $0.87 is 29.5 cents. Call this 29.5 cents move an A wave.
The B wave from $0.87 to the December 12 high of $1.12 is 25 cents.
The anticipated C wave is often 1.618 X the A wave. In this case 29.5c X 1.618 = 47.73 cents.
Deduct 47.73 cents from the B wave top of $1.12 & the answer is 64.27 cents.
The 64.27 cents coincides with the June 28 low of last year of 65 cents.
I would suggest that the 65 cent area would be an excellent area to make a positive increase to your holdings.
I am not suggesting that the share price will get there but if it does then you should be able to buy with a certain amount of confidence.
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Last
55.0¢ |
Change
-0.020(3.51%) |
Mkt cap ! $75.54M |
Open | High | Low | Value | Volume |
57.0¢ | 58.5¢ | 53.0¢ | $25.88K | 46.15K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4518 | 55.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
61.0¢ | 1000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4518 | 0.550 |
1 | 4644 | 0.535 |
2 | 12500 | 0.530 |
1 | 10000 | 0.525 |
1 | 11538 | 0.520 |
Price($) | Vol. | No. |
---|---|---|
0.610 | 1000 | 1 |
0.625 | 9109 | 1 |
0.630 | 6837 | 1 |
0.670 | 1500 | 1 |
0.690 | 6000 | 1 |
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