either way mate there are a lot trapped in this one and it’s not...

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italabria

17,070 Posts.

1365

18/01/22

06:05

Post #: 58932993
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Originally posted by blister: ↑

context in all things. they only IPO'd for 20million bucks and current MC at 9 million, so while I agree chart looks horrible, that's a pretty common swing in spec land... 50% swings being the norm when you immediately go into development/building the actual money earner and the cap raise that dilutes.

Also not sure a two year chart in spec world is much help from a technical perspective. At worst maybe 12 months and only if its super gappy. support was/resistance now 1.9c....once broken it'll be driven by the numbers as the drift downwards has been on illiquidity and bugger all volume...biggest trading day in the company's history was $400k exchanged, chicken feed.
View attachment 4000619

this one will be driven by fundamentals imo. I imagine that the permits for gin gin are worth more than current MC noting the pain in the arse the EPA is these days. I wouldn't be shocked if cleanaway came in with a low ball take over bid for Gin Gin once operational.

just my musings though.

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either way mate there are a lot trapped in this one and it’s not going to just go vertical up. Needs to consolidate still and create a bigger base. Still 11 mill debt. Plenty of time to take a position once I see the tide turning which I’m yet to see.

M8S Price at posting: 1.8¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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either way mate there are a lot trapped in this one and it’s not...

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