yes an attempted breakout, which is a fake out, technically. Fundamentally a few things grabbed my attention: 1. Outlook - I don't get the impression they are far progressed with their market penetration. The board still believe there is a solid addressable market out there. It reads like they have been flogging a dead horse - my interpretation is "our approach isn't working - we need to try investing significant $$ to grow, so a strategic sales shake up is required". I wonder if a capital raising is on the cards, or whether cash at hand is enough. So, it seems like this is going nowhere fast. They are signalling the need to invest significantly, if we are to expect growth. 2. Reporting in USD going forward - so any strength in the Aussie will hurt. USD is entering a critical second daily cycle, where most people are expecting it to collapse, but I'm not so convinced. The latter would work in CXZ's favour.
I had a buy order in at 1.8 which I wasn't expecting to get filled. Surprised to see this. Out at 1.7. Too much uncertainty for my liking. Happy to wear a small loss.
CXZ Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
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