TA? Never said I was an expert, kev. Just thoughts. Trying my best to make sense of what I see. Perhaps more accurate to say, I'm not a trader, which I never have been. The chart shows a solid base from Oct 22 - Jan 23 ranging between 19 - 21 cents. When it broke through 19 mid-Dec it held 18.5 for three weeks before lifting itself off the floor to rally into Jan and presumably expectation of a good Q. Most stocks enjoyed the Jan reprieve.
The most interesting thing about the recent chart is the red bearish engulfing candle open 24.5 close 22.5 on 25 Jan, 2 days before the Q announcement. That didn't come out of nowhere. Somebody knew.
Then the Q and the damage was done. 18 cents held for a week but there was more heavy volume to come, and again today it seems. 2.6M traded in the last four days including today so far (Ex CHI-X). There is some support, but the bid is being sold into. There's no appetite whatsoever to hit the ask and take it up, which you might expect if it was perceived as a bargain, or even a good short-term trade. And what support there is disappearing fast.
Until that changes, we're in a world of pain.
Not pretty.
Of course, if the Q had delivered on expectation, we wouldn't be having this conversation.
One last thing, sorry to bore everyone with my lack of TA ability (LOL) but if you look at a 3-year chart, we are now - @ 14 cents - where it closed on 17 July 2020, the first week of the breakout from the multi-year base, and the run to ATH. Top white line.
Is Pointerra a fundamentally better company than it was then? Undeniably, on every metric.
Begs the question, why is being hammered back into the stone age?
Something worth thinking about. Especially with the bot as active as it has been these past several months. IMO, can't all be down to one shitty quarter.
3DP Price at posting:
14.8¢ Sentiment: Buy Disclosure: Held
