BIT 0.00% 1.9¢ biotron limited

$1.00 On The Horizon, page-374

  1. 2,335 Posts.
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    'zoomed' out perspective on behavior of the stock that I can see (ignoring intra-day action and TA/Patterns for moment).

    -Sustained run over the last week/fortnight
    -5 days consecutive higher volume
    -Some very large buying has been blatantly soaking (Maybe this is all for show? Maybe not? - certainly large figures to be throwing around on such a volatile stock)
    -On the back of the runs, only a 4% retrace on close today
    -300m volume consolidation today with VWAP 5c higher than close, and 4c higher than previous close

    All of these things combined indicate to me the broader sentiment of the company still has plenty of gas left in the tank , even if it's observations through price action alone.

    A sub holder notice in due course could really throw this thing into another another league altogether, and who can really say what the 'free float' looks like anymore.

    Anybody who sees a tall wick and things the end is near should focus more on the broader indicators before panicking - all of those 'blue skies' sentiments yesterday are only bluer today. I make no share price predictions other up, and I think once the company starts to become 'overvalued' that priced will be sustained by what is rightfully bullish speculation of the potential in this company. It's a big case of FA fueling price action way too hard for micro TA indicators to be a massive concern.

    All IMO, good luck to all and try to keep your lunch down
 
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