There are signs that we are close to a bottom - note the last two candles (circled) both have bullish tails at the bottom. The volume has been quite high the last two days but buyers are starting to get control back at these levels.
As stated earlier today, there is normally a period of 'churn' in the initial days of a Reverse Take Over as brokers who recieve placement shares sell out. Based on some research I've done on other RTOs, I believe we have another 70-80M shares to churn before brokers have left the building and the share price reflects some sort of fundamental value. Based on average daily volume since relisting of 5.5M, that's another 10-15 trading days away.
Note also that management would have better visibility of broker positions than we would. There really is very little point announcing good news only to have the share price suppressed by broker churn.
BUD Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
