Well RY...in the end we are at 10c...So we have to take that on the downside nothing is possible....in fact I have noticed lately that's what has been happening all over. Asx ....it's gets to unthinkable levels..
A2m under $4 from what $15 high
Zip under $1...I picked zip at 4.6 thinking it was close to bottom and sold out at $4.4 ..lucky me..
CTT O.5 from 3.5-4 after decent numbers being reported with growth..
Few Pharmas apart from ANP that we know ..
If we were told 2-3 months ago that we would be at 10c, none of us would have taken that especially after having some cash in the bank...yes if there was a couple of million it's a different story...anyways we are here now even with $21m cash and sitting at an EV of under $50m...which is obviously ridiculous ..
Anyways so 8-9c is also possible ....at least I am.open to any bottom now...as I have said before picked at 20.5c....then 16-17c and last at 12.5c....thinking it can't go any lower....eveytime I buy it just goes down..it's a good idea not to buy...lol
Coming back as Sam says sometimes better off to buy at 15c or even 20c as you know that the trend is changed and it's going up than down...now as you say the upside is more buying at 10c....and this is where we need conviction , confidence and holding strength and that what we are buying is the right price for us to hold irrespective of the market and where it's going after our purchase...
I still think lots of Pharmas are in oversold territories and MA and sector turnaround is not far...CHM has some churn yestrday and so was IMU...Also every stock or dog stock will make some bottom and sit in between....so it's a punt that we take ...obviously we should be confident of the product which we all are in this case...
Going all in is still in mind...but I already have close to couple of million shares...so may not go in..
Again any positive news and in one day someone may end up paying over 15c in for this same stock....we know the sell side is dry...
That MA activity if happens in any ASX stock.is going to put a little rocket under all pharma stocks...and sector...
Imo dyor
ANP Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
