Remember the previous capital raising at $5.45 on 19 Dec? The SP dropped and stay low for a few weeks. It doesn't take an expert to buy the share at good price around $5.60 at that time.
So the same story goes around this second capital raising.
Last closing price is $7.38. My target, if based on previous capital raising experience (ignoring market cap, shares on issues...etc), is this will drop VERY SUBSTANTIALLY.
My own comfort buying zone is within $5.90 and $6.20, based on previous capital raising experience that the SP will eventually touch the 2nd capital raising price, which is around $5.75.
For those holders, your best chance to sell is at the opening. So surprise that the company raised the capital at such a cheap price.
Feel sorry for a few large buyers above the $7 mark, I bought and sold on the same day during the last few sessions, only for very minor profit. I almost followed the herd seeing the $7.30 resistance breached, but resisted for some reasons.
So good luck to all holders. History tend to repeat itself. With the gap down, TA signals a temporary down trend/sideway trade.
PGL Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Not Held
