To be honest, actually quite liking this trading range. Is allowing the firm believers to get properly set, which is why there are such low volumes in the stock as the more the believers keep topping up, the fewer shaky parcels there are out there. Most holders understand the upside potential and are happy to play the waiting game, that is the only way you snag that multibagger...
I suspect there may be a couple of punters trading the current range (29-35)c or thereabouts. good luck to them.
Can only trade this range so many times before it breaks one way or the other, i suspect this current low in the range will be key when we look back in 6 months time..
True charting believer (which I am not) would say this needs to test the gap back to circa 25c... Wouldnt be surprised to see a short sharp dip back there for the final shakeout, on low volume, which will be a great chance to round up holdings, then up and off she goes as the sellers are completely exhausted.
But, this stock is derisked from when it was last 25c, additional results and patents approved, it is lower risk now than when it was last at 25c, so i dont see it back there unless there is negative news, or we get an impatient holder as there is a bit of time for news flow.
Maybe its my wishful thinking that it might get back there so I can buy some more...
GLTAH.
NYR Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)