Have a look as see how some companies have doubled in days of a proper, yell it from the roof, type announcement.
The market isnt liking risk. But it understands market caps of most bio tech companies are really low. Any real glimmer of drug working seems to be supported, and with gusto.
Share holders will loose the love and sell out for a loss in times like these. Low liquidity means that will lower the price, so more holders will loose the love.
Any buyer now that wants $500 worth of shares drives the price up. Any seller that wants to sell $500 worth of shares will drive the price down. We saw this type of action around close today.
TA wise there is not a lot of data at these share prices to give proper support and resistance confidence. So any buyer will be waiting in the wings. They need some supportive evidence that the price will move.
A long term holder has to try and read between the lines. The new Phase 1b extension trial would tend to support they have evidence the drug is working. New patents still be applied for and awarded. So hints things are still progressing.
CHM Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)