@3DPrintsCheers 3D. Appreciate your perspective but disagree with a few points there and here's why.
Since listing in 2017, the SP went from 18 cents to $1.35 before a massive distribution of wealth took place, it was a traders dream stock and I can remember it being worked pretty hard. Then from 2019 the long downtrend began with solid opportunities to grab income along the way for traders but a horror story for long holders trapped.
Currently all holders of nearly a billion shares are in the red and are looking for positives that may arise for them to get their capital back. So there's two sources that provide that and one is "hopes" from future announcements or some positives that can be sort out from accurate charting. Yes those positives can be speculative according to ones bias or agenda but I can only provide my views on how I see the previous and recent price action and I have zero bias or agenda.
I have no clue as to the fundamentals of this company nor do I care, Commsec provides me with enough to go on at a touch of a button.
And I wish I never read this as it doesn't give any confidence.
And of course Macquarie Group would be the major holders, now you know where the shorting supply comes from.
Far out, wish I never pushed those buttons!
However, the most important chart for long holders IMO is the weekly chart and this is the current positives that can be taken from it.
Above is the weekly chart since listing.
You can see that there is some resistance that has built up at the .073 level which would be my first target if momentum was heading that way. But ater such a long brutal downtrend what holders are desperately searching for are signs of it bottoming out and in my opinion we are seeing those signs and here's why.
Since the second half of 2023 you can see the strong increase in volumes at the lows between .013-.016. That becomes an accumulation zone and it went for nearly 5 months! Now by anyone's standards, that's a pretty substantial time period to accumulate and soak up the last of the sellers.
The other positive I can see is that during the downtrend, that important red 50ema could never be touched until mid 2022 where it was tested and failed. We are currently witnessing a tussle with that 50 in which the 50 has the upper hand but at least there's a fight. Seriously, don't under-estimate when yo have green candles being printed above that 50ema and with the 50 arrowing upwards.
Here's a closer look at that tussle.
Currently on the daily you are witnessing a retrace from the breakout on the 21st November at .015 - .016 and the SP rolled over at 5 cents. That's not a bad gain and has put TTT back on the trading scans. Now the current focus is on the reversal signals from this retrace. I've posted before that the 62Fib is a pivotal level for retracements and it's nearly there. (.028) But yes that's only a guide and we'll need to wait for confirmation. But it is the level that will attract more attention.
So 3D I've purposely kept this info to a pretty basic level but hope you can see that we can get a lot from charting rather than just hoping that the company comes good with something. At one stage, this company's SP hit $1.35 and that was nothing to do with managements skills, it was purely the market taking it there and likewise, the market has bought it all the way back to just over 1 cent. Therefore I'll put my faith in following the market and I need TA to do it.
Yep, those that don't understand it usually mock it, God knows I'm used to that, (why in the hell do those folks even come onto a charting thread) but my business and my career is based on it so I'm pretty passionate about it.
Cheers.
(20min delay)