Yes. Essentially. The MOU was nice and all, but until it's...

Yes. Essentially. The MOU was nice and all, but until it's generating some revenue it's not worth much more than piece of paper it was written on. The announcements you mention were great, but make no mistake about it, the company didn’t just decide to buy Imbio on a whim, this would have been well planned months in advance and this last series of announcements aided the company in lifting the SP in order to facilitate that already planned acquisition. I’ve seen it time and time again. Many MOUs are pretty much worthless; hence why I didn’t buy any stock off the back of that. This one might be different though, who knows, but in my personal experience, I’ll wait until I see continued results from it.

Focusing more to your original question, yes, today’s volume (and close) along with the MACD and RSI etc all indicate to me that there’s more selling to come (unless like I said, the company can ink a few more deals). The Bulls have lost control for now and the bears are in charge and with a couple of gaps lower to fill, it’s looking very likely over the coming days and weeks that the first one will fill. This is still a speccy generating bugger all revenue remember.

If a H&S forms here closing the overhead gap then I’d expect a long retrace to the lower gap at 475. 4DX has a history now of big moves north followed by a long slow disintegration to previous levels.

Don’t get me wrong, mate, I’m still very bullish on the company. It’s by far and away my largest holding, twice that of my next Biotech, but that’s how I see it.

Bell Potter are notorious for selling after a raise, I doubt the majority of their clients give two shits about 4DX right now while it’s still in speccy land.

Obviously this is my personal opinion, just as everyone is welcome to theirs.