Yeah, but...We don't know who is out there buying or selling....

Yeah, but...

We don't know who is out there buying or selling. The share price went down in anticipation of a CR. The SP went down again because the CR was set to be attractive to existing shareholders. Remember the record date was set before the CR announcement which meant it was only for existing share holders.

The SP went down again as the value of the options was valued by the market. Hence the SP @ 3c valuation.

So, which way does the SP go post CR. Well, in theory, the only way is up, but the pathway depends on who is buying and selling. There are traders, market makers, nervous investors & others out there.

So I believe charts can be helpful in gaining understanding of trading patterns. Traders and investors who value those charts can make decisions that are somewhat self-fulfilling. It works both ways and can help in getting the SP moving one way or another through positive feedback.

I participated in the CR to support the company. Whilst I have lost a lot, I have gained some back. Those gains may come and go, but with positive announcements at the end of June/July, I will be more confident with BLG and will sit back for the ride.

OR

I could just pull the trigger and do some selling. After all, some of the stocks I sold to fund the BLG CR have dropped off substantially (i.e WBT) or are doing capital raisings. Now might be a good time to rotate back in or do some more CR participation.

I might not be the only one pondering this, and so any breakout may be capped. BLG already has my money and I could exit and also use those funds to convert the options later on. That is why I am looking more for the coming announcements for SP movement and not too focused on charts at this point in time. Post any positive announcement, there should be good SP support to sell into if that is what I choose.

There are only two chart points of interest to me as a long-term investor: Now = SP low. Future = SP high Later = Dividends.