Yes, I understand and TA is the basis for many of my trades. In this case you said the chart is telling you this is going down to under 3c. I’m pointing out that I don’t believe the Fundementals support this. The only thing in my mind that as caused this to stop in its tracks on the latest announcement was the key resistance level of 5.4c, the previous high. Since then it has gathered a little downside momentum from the downturn, however with the strong fundamentals at play here I cannot see this underlying downward pressure continuing. The stock has been under serious upward price pressure based on the current revenue growth. It’s not rumours or speculation driving this, it’s cold hard numbers announced by management. That why we haven’t seen a classic pump and dump like some have been calling - there is something fundamentally strong here and smart people are buying the dips.
EN1 Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
