HI 9SP holders... has been a little while since I said hello... thought I would offer some basic TA and charting for those interested...
For the record I just want to mention that I am still holding, I believe there has been a highly manipulative play on the SP for some time as many of you are aware... however the push down is always met with decent buy orders soon to follow, line wipes etc... as even witnessed today..
I don't have a crystal ball, but what I keep seeing when watching the live trading here is what seems to be a decent accumulation game over and over...
From a fundamental perspective we know that 9SP is still cashed up enough to get us through a few more QTR's yet, if progression is as expected then cashflow positive will eventually be in play, this will be the re-rate us holders will be rewarded with first... facts we know to date is that 9SP is aggressively being proactive on a global scale, big named companies are signing up with us, revenue is inevitable, Material revenue is what we are all hoping for... IMO many of us have been frustrated to date with the SP games, however you have to admit 9SP has come along way in the last 12months with ongoing partnerships that are pushing our platform on to their client data base of SME's... As I have always said, this will be initially a slow growth moment as we plant out roots, but in time this will take hold... simply my opinion in general, but I think we can all agree that 9SP is in the best form it has ever been in since it was listed... From a TA perspective you can see games being played, however the volumes are currently low... Any decent positive news will see this SP jump.. for the SP to hold and gain after any jump will be that of stronger revenue revealed in the Qtrlies ... this is the hope we holders live for...
Any way here is some basic TA and charting from my perspective for those interested...
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Decline Within Longer Term Uptrend
9SP appears to be in a bearish medium term trend within a longer-term uptrend. Although the 200-day moving average is rising, the MACD has been bearish but looks to be on the turn.. buying interest is happening again...
Strong Bullish Momentum
Momentum for 9SP is strongly bullish. The 14-period Slow Stochastic oscillator is above 80, the level which many analysts call overbought. This means that investors have been actively purchasing shares and driving the price higher. However IMO over all opinion it is also because there seems to be a obvious support at 2cents... hence one could consider this bargain buying if you believe in the FA moving forward...
Above Average Volume
Today's volume was heavier than usual, trading over 15M shares, versus an average of 9.1M shares per day during the last twelve months. The On Balance Volume indicator (OBV) is bullish. The slope of the indicator is positive and suggests that buyers are presently more active than sellers.
Bollinger Bands Signal Volatility Squeeze
Volatility, measured using the width of the Bollinger Bands, is extremely low, resulting in a condition called the Bollinger Band Squeeze. Bollinger Band Squeezes tend to precede major price breakouts, although they do not predict which direction the new trend will take. Trend and momentum indicators can be useful during Squeeze conditions to help discern the direction of future trends.
Any way, best wishes to holders... I think 9sp moment is coming, hopefully we will have something substantial in an announcement to back up the next SP run so as it will hold and sustain..
If you like my charting and analysis please feel free to click over my avatar and click follow, please tag me in any other stock threads for some alike analysis, I don't always have time, but if I can I am happy to accommodate ... love being bought attention to other stocks... Best wishes to all...
