Short, sharp hit late in the day that has put a crease into the surge. Unwelcome but, as the responses here suggest, not entirely unexpected and something that (I would suggest) fits with at least the weekly sp movements over the last few weeks, particularly given the observed likely broker interest in that period.
Re the question of trailing stops: This is always a personal call, depending upon individual circumstances (and I was not stopped out), however many new investors could well be out and considering their future commitment to this company. My call is to read this thread carefully, read the company info available and to recognize that this was, by the very nature of the drop, 'manipulation' by people who are more likely (IMO) to reenter, if not just as quickly, then over the short term in order to be holding considerable volumes to either do the same again later or to ride the continued surge, based largely upon the points raise here (with particular thanks again to MarkBoy).
I am not a short-term trader anyway, however it would seem to me that this retrace (in under an hour yesterday afternoon) will be regarded as a test of resolve for many and provide opportunities for those who had waited for it to happen, with 25c as being on trend (ref the weekly charts).
In my view, there is likely to be consolidation in this mid-20c range for a few days, probably on lower volumes than we have seen lately, before a continuation of the upward trend, albeit with retail investors who are less likely to be spooked into selling and interested brokers.
Welcome to the world of re-rating I reckon, as developments unfold upon a world that has largely no idea of what is happening (yet) in this space.
All good, and I am again out and about, doing some renovations to my daughter's place to accommodate the enlarged family, which includes a bit of rendering that could have used edencrete (Have to be the next project).
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Last
0.2¢ |
Change
-0.001(25.0%) |
Mkt cap ! $6.162M |
Open | High | Low | Value | Volume |
0.2¢ | 0.2¢ | 0.2¢ | $188 | 125K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
61 | 201617439 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.2¢ | 24092145 | 18 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
61 | 201617439 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.002 | 24092145 | 18 |
0.003 | 49546223 | 26 |
0.004 | 5516034 | 6 |
0.005 | 4121040 | 3 |
0.006 | 3376383 | 2 |
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