Yep, they fawn over it.
This is what makes the BIT forum so special, it's fascinating reading.
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Given the significant ramping up and down going on, perhaps some perspective is required around how BIT rolls in relation to announcements and the correlation with price and/or volume.
Chart 1
- Back in Sep/Oct 2018 outcomes of BIT225 were released and triggered some north bound movement, no indicators in increased volume leading up to announcement
- Prior to this BIT had had a trading halt in relation to renounceable rights offer in May 2018
- This was followed up with a couple other announcements which continued to push price north
- Pump and dump 16 October
- Mid Nov accountment around presenting at Florida convenstion later in month
- Post presentation it retraced, loads of ramping on here at that time too....
Chart 2
- Spike when release around BIO presentation
- No indicators in volume increase leading to this announcement- Letter to shareholders triggered northbound movement (again), seems market likes thos announcements back then
- Pump and dump couple days later
- Again no strange volume changes leading up
- Pull back from end July with nothing major in announcements
Chart 3- Change in directors interest leading up to covid testing - hmmmm
- Pullback post covid announcement - pump and dump
Chart 5- End of FY, price starts heading north before HIV results, this is possible first leaks I've seen based on charting
- First trading halt against testing results (I only went back 5 years, could be some before then)
- Leading into most resent update on COVID testing had no volume movements of note, other than a couple of $20-40k 3:50pm purchases on 2 September, you'd need to have been watching to have noticed.
So to recap the above:
- BIT doesn't appear to have any leaks in relation prior price movement which shows that surprises are possible with BIT (appart from that seen in chart 5)
- Letters to shareholders seem to go down well with shareholders
- Keep an eye on Directors interest notices
- Sell the news happens with BIT but not always, can take a couple days so be prepared if your strategy is to exit on announcements
- I would say the trading halt was requested by ASX hence the pause first as BIT have made similar testing statements without halt
- Saying this will be $1 or $3 next week etc ramping is nearly as painful to read as our resident debbie downers - There are more pages in this discussion • 221 more messages in this thread...
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Last
1.9¢ |
Change
0.001(5.56%) |
Mkt cap ! $17.14M |
Open | High | Low | Value | Volume |
1.8¢ | 1.9¢ | 1.8¢ | $3.69K | 197.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 2175000 | 1.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 480522 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 2175000 | 0.017 |
11 | 2337904 | 0.016 |
16 | 2996688 | 0.015 |
7 | 5758433 | 0.014 |
5 | 1849000 | 0.013 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 480522 | 6 |
0.020 | 1094211 | 7 |
0.021 | 600000 | 1 |
0.022 | 340866 | 2 |
0.023 | 508000 | 2 |
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