The technical indicators (because many investors and particularly traders look at them) act as a catalyst to bring in volume. I have been in this company since the listing days and dare I say that one of the biggest reasons it hasn't made significant SP movements although there has been massive news is that it hasn't attracted the day traders and institutional holders who normally pump the prices up with massive volume.
Whilst, some may argue that pumping a SP like that does no good to the company, these traders bring in much needed high churn in volume that creates a sudden interest in the company because "more" people are willing to take risk as the liquidity provides contingency for these SH to get out if the desired move doesn't happen. If it's not liquid enough it is more likely it will drop significantly in price even with small volume (just like what happened last week)
The company may argue all its life that they want the long term holders only, these short term traders are the ones who take the SP off to a good start, increasing exposure to the broader trading community and thus allowing the big capital raises to happen without significantly diluting the company.
Even though trading is not my cup of tea and spend more time investing, I totally understand the value these set of individuals bring and charts/technical indicators provide a platform to attract their interest.
And I agree, TechInvest will likely be the next catalyst for SP because it will bring (hopefully) the much needed volume to follow - watch what happens after that and the movements with the technical indicators.
MSM Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
