Some interesting observations worth sharing while the share price is consolidating.
It appears the turn around move is quite similar to the initial wave1 for BUB back in 2017'ish. By that I mean a huge spike (see green arrows) on massive volume.
Had to double check the volume and Comsec, seems to confirm.
I mean if that isn't volume confirmation I don't know what is. Understandably what follows now is some weeks of soaking up ppl who want to exit from above. I mentioned last wk I'm expecting insto flows to be chasing this but in hindsight they may well need further confirmation from a US regulatory change standpoint to warrant turning the taps on from their end. It would appear BUB is making progress or at least at the table in discussions around this point which is a surprise and a massive tick so far.
Have heard stories that the FDA were somewhat partly to blame for the regulatory break down from the US IF producers, so I think the odds are on BUB's side that import regs changes are made at least to 1. punish US producers & 2. reduce risk for their market going forward. So it'll just chew up 'time' for the next big run.
TP for next run is around $1.37-$1.66 range. (*big assumption reg changes are passed to allow BUB continued entry).
It's going to get very choppy so take your 'time' to layer in.
Cheers,
MK.
(20min delay)