It has already been covered here, but sure, fair enough, I'll briefly list some points.
I could go on about the TA but w3hunter has already done a better job than I would, he's said everything I would plus more and explained it well. I don't always agree with everything he says and on other stocks I've openly said so, but in this case he's said everything I think plus a more, none of which I disagree with.
A lot of valid points have been made by several people, I don't have anything new to add which is why I didn't bother with a repetitive post echoing others, but a couple of things which are fairly significant in addition to the TA are the DFS being delayed which is sure to dampen sentiment (again to be clear, it'll still be great when it does come) and of course the CR having just taken place at 16c; anyone who has been following stocks for any amount of time knows that in the overwhelming majority of cases, the share price tends to hit the CR figure and usually lower, and in the majority of cases the price tends to get anchored to this figure for some time. This coupled with a delay in the DFS schedule (which isn't a good look and won't help sentiment as well as just the raw reality of a delay in schedule) and these coupled with the bearish technicals (which was the reason I jumped out quickly, taking a loss of a couple of pips rather than hanging on for what would have been a far nastier ride down), plus all the other points which have been raised by others here, just don't paint an overall bullish picture in the short term. You'd be kidding yourself to think otherwise.
Another thing to consider if we're going to be honest, and this is generally true of CRs which is part of the reason we consistently see what we do see with CRs, is that if management was expecting the share price to rise in the short term, they would have waited and done the CR after that rise. I think management have done a great job with the timing of this CR and while many holders will be cranky and bitter about it, I think they were correct in not having a retail SPP, because doing so would be expensive and exacerbate the SP pinning to the CR price for a longer time, not to mention it being an expensive thing to carry out. It's 'unfair' in a way, but since retail investors will (IMHO) soon be able to buy on market for the same price or less anyway, not doing it is a win for literally everyone other than those with bee-in-the-bonnet syndrome.
Yes, long term there are some positives which have come from the CR, and of course a lot of long term positive exist (most haven't tremendously changed) which is why most of us here including myself are watching at all.
It's always interesting and telling to see who is comfortable with saying 'short term pain for long term gain, that's fine' and who says 'OMG, anyone who thinks the price will temporarily drop is a **** and a **** and should ****ing kill themselves and I hate them and I'm going to go suck my thumb!'. It's always comical to see the people who hold during a drop getting angry at the people who sell out and buy lower, and those who are comfortable to say 'it'll probably drop and good luck to those who trade out and back in, but for my own reasons I'm just going to hold long term without trading'.
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