As much as I never thought it would happen and now we are in low 20s, I think it will find support at 22c. Yesterday was controlled selling in the morning followed by panic selling in the afternoon. It was very much finding support at 23.5c which was the lowest SP before the last uptrend but with a small volume pushing it to 23c everyone went for the doors.
A lot of shares were absorbed at 22c after the last cap raise and if you look at last year, prices have hovered around this for a long time. I, for that matter would be highly surprised if it didn't bounce of 22c. Not saying it will but it also has a long term support at 20c which is also cap raising price, this should be a screaming hold if not a screaming buy!
FA wise we know nothing negative has come out other than google play download numbers thst too isn't enough indication of being negative on it's own and honestly they haven't even revealed how final rounds are going to work and how grand finale will be hosted. Sketchshe haven't even appeared in the app and nor has any judges. There is still "stuff" to look forward to.
TA wise it's oversold and near 2 long term support territories.
Forecasts wise, Morningstar still valuing this at 38c. RAAS at $1 after comp 1 based on numbers being met.
Always important to remember why you bought it in the first place, assess the risks and trade accordingly. Goodluck to everyone.
MSM Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
