I struggle with the TA when it comes to tiny little bangers like HMD. The issue as I see it is that there have been a few spits and spurts that didn't eventuate into anything so there is an element of mistrust in the market. Today's announcement was another non-revenue specific "market sensitive" release. Without revenue attached its just another nice bit of a good story, the price has gone up on a bad day so that is promising. Should there be the big news drop of Mayo AND Joondalup signing on then we will see a significant and material shift up. Where that goes to is a bit of a guess. Therein lies the crux of TA issues for HMD... tiny market cap that is patiently awaiting game changing news.. when it hits then it's a new company effectively and prior charts become redundant as we are dealing with brand new business not just speculation. 1 announcement and BOOM.. pretty hard to see that on a chart, bit like a drilling company.. moves here and there and you can chart a bit up or down then one day they hit pay dirt and it leaps away. That's not the day to be waiting for a TA trigger.
I trade much bigger money than I have invested in here and that is very much TA focused. I believe in technicals except for drillers and bangers. The Fundamentals at play here are currently rubbish, the upside is unhinged. I'm betting part of my tax bill that HMD will fly, if not I have a tax loss.. Long story short, stay tuned because the upside here is great, RW is a bit of a medtech legend and Israel is a very inventive place with some amazing business brains.
HMD Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
