NEU - Charts & Technical Analysis, page-4

IMO, in Neuren's case the consolidation is immaterial. We are and will be valued on our market cap. The SP is just reflective of the fixed relationship between SOI & MC. [Who cares if they have 1000 shares @ $20 or 20,000 shares @ $1 - both equal a holding of $20,000.]

The principal danger of consolidation in speculative stocks is in the reason behind it. Usually it is repeated raisings over time which cause SOI to become huge and saps investor confidence, which leads to a perception that a substantial reduction is needed.

That is purely psychological reasoning. The real danger with such companies is the perrenial need for more and more cash over an extended period without supporting revenue - Big red flag.

Because of it's extraordinary fundamentals progress Neuren has passed that test (with flying colours) and the consolidation has become meaningless.

[I regard it as pointless to to take into consideration any data from 20 or so years ago in current technical analysis. Fundamentals must play a major role in major SP discontinuities, which render historical analysis technically useless.]