Hi. Firstly, gapping in the Bollies doesn't mean an upward move....

Hi.

Firstly, gapping in the Bollies doesn't mean an upward move. It signals a move which could be up or down.

That might seem like stating the obvious in terms of Sp movements but with gapping the movement is far stronger.

On balance volume is great but I can't help but feel the Sp has been supported, and not by punters! The RSI is sitting at 50. MACD crossed up. 8EMA on the median bollie. So lots of good signs.

The 5 day/5 min chart shows the bollies opening, with the Sp constrained now by the upper bollie. And, the 8 ema crossing the median bollie.

So looking good!

Except for the reality of a CR and the resulting churn.

Looking at the depth there are no buyers till 2.8 and no strength to 2.7. PLUS the move to 3 c was on close.

Given the CR and churn that is about to occur I see the Sp falling dramatically. It is just standard and not a down ramp.

I sold my 700,000 between 3 and 3.7c. I will look to buy back at a max of 2.2 (29/6 low).

Given the share consolidation I will definitely get even lower. Look at AIS re a copper gold stock that recently did a consolidation. From memory It was around 17 c when it did a 7 for 1. So $1.19. But is now back at 17 c (2.4 c equiv).

I like AUT and will buy back. So currently I'm not holding but will again.