Oh, and here's a single day broker report from monday 20thDec. The most interesting being the BellPotter sell at 0.016 (the lowest sell point at the time); and Euroz albiet small, seemingly switching to buying again (next few days/weeks will confirm).
From a charting perspective, we are in 'no mans land' - next to impossible to establish any real informative technicals (and volume is way too light). As of today, we've grounded out on 0.015 (in low volume after market auction). A large position is clearly exiting (or just crossing positions with others) - my guess BellPotter (and/or whomever sits within that, just given that nice square 5m trade on monday - possibly the 'estate' - not that it matters).
Using the weekly timeframe, there are only a few quick observations:
- stochastics: coming down and about to enter oversold territory again (on the weekly) - (it's already oversold on the daily).
- Sitting on circa medium term support: signficant proven support circa 0.015/0.014 (not that it means much in a spec-stock).
- Trend reversal: we can see in most cases over the last 4 years, after the stoch enters the oversold region, it typically signifies trend reversal (in this case to the upside) - but potentially 3-4weeks away from this). I suspect we'll go sideways for a while.
- Pattern recognition: you'll note two green boxes drawn on the chart. The pattern we are seeing now, looks like it's shaping up similar to the past (circa Aug 2023-Oct2023). Note, we'll likely sit under the moving trend line for 4-5weeks, while bouncing along support (0.015/0.014).From a charting perspective using all the indcators above, all I can say is we are closer to the bottom, than the top (assuming the fundementals pan out - ie, wds farm-in; and there is not a major economic collapse). So, it's a case of you either de-risk now (as some have been doing from the broker data), or you 'live by the sword, die by the sword' and hold/buy as liquidity dries up and uncertainty takes over. Anyway, that's my two cents. Certainly interesting times. Tick tock.
(20min delay)