Well hindsight is great isn't it. On the VSA chart shown below I had placed the two pink "potential support" lines at 11.5c and 9c on the chart mid way through the trading halt period thinking that an SP drop to these levels would be a worse case scenario. Looking back it was a mistake to ignore the "Failed Two Bar Reversal" and the "High Volume Up Thrust" signals that appeared on the chart. The price-volume action warnings were there, but who would have anticipated a fall down to the 6c level? I know from experience that every time there is a new 4DS announcement the SP falls, but the recent announcement really did pull the rug out from under all the speculative hype. But why did the SP stop at around 6c. You just have to look at the Ultra-High Volume "Absorption Volume" (re-rate) bar back in September 2020, and the consolidation zone that formed below the Close level of that bar. This zone is shown on the chart by the two pink lines at the 5.9c and 7.4c levels. So, what is driving this consolidation? Is it the Smart Money that came in and re-rated the stock up back in September 2020, buying in again? Will the next 4DS announcement, possibly a new CR, drive the SP further down? Who knows? As I said it's just all speculation. One thing I do know is that if there is a high volume breakout above the 7.4c level a move back to the 13c level is on the cards. Alternatively, If the 5.9c level fails the next support level is around the 4.4c level. Good luck to all the 4DS LTHers. DM recons that the SP will re-rate back up to the 13c level as the July target date for the next hopefully working platform lot is approached. Or maybe he is just hoping that it does so that he can sell more of his holdings at a multi-bag price.
4DS Price at posting:
5.8¢ Sentiment: None Disclosure: Not Held
