Looking at technicals on the chart, LIO is struggling to hold up. All momentum indicators on all timeframes daily-monthly are all extremely bearish. Highlighting no buy signals for the short or long term.
Failing to create a lower high from going down to 1.4c. I personally thought the previous 2 visits are the price would have formed the double bottom, but hell was I wrong.
Sell volume on the spike again, either frustrated holders due to lack of news with genuine substance or insiders reducing their weight before taking stake in the over due CR.
Either way, grim outlook on the share price. If we are to be trading in the current wedge, TA indicates a share price of 0.009 is possible (maybe even lower if management hand out free ridiculous priced options), which falls in line with a CR @1c.
No vote of confidence from management purchasing shares on market.
Looking at technicals on the chart, LIO is struggling to hold...
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