re: significant move once again... paulhart...
4c May or may not happen that quickly...but it's certainly the right time to be entering the stock in my opinion.
I see the apparent slow motion "consolidation" at current levels as an extremely encouraging sign and suggest it may be more significant than some might think.
This sort of activity, particularly the patience being shown by both sides of the ledger, suggests we are mainly seeing mid/long termers and not simply "traders" after a quick buck...this augers well TOX's mid term price performance.
In particular, the slow pace of the consolidation suggests the sellers are nothing more than profit takers from lower levels and once again, not "traders" trying to run the price down for another go at it.
This is all very good stuff!
Several weeks ago I suggested it was time to buy TOX, after the stocked bounced sharply off what appeared to be good support in the low 2's.
I also mentioned the importance of the 2.7c level and that any consolidation and break above this number would be yet another buying opportunity....as I see it, we are seeing exactly the same conditions now around the 3.3c level.
People with either agree or disagree…that’s OK.
I have read various defamatory comments about Ian Burton and TOX management...not sure the information at hand supports these statements.
On the contrary, as evidence by the upwards revision of their previously released forward profit statement, it has become clear to me that management is being rather conservative with their projects...from my experience, this is very refreshing for any ASX listed micro-cap, let alone one with TOX's history.
Clearly, a turn-around story is in play...and the best way to profit from such scenarios is to get in early, not over trade it...and hold out for as long as you can.
I have done just that...and have topped up at each consolidation level.
We are a long way off a long-term sell trigger in my opinion.
Cheers!
re: significant move once again... paulhart...4c May or may not...
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