Larry, the season is against you.Another month and we're into tax loss selling. Prime candidates are:
1) Spec and small stocks that are held predominantly in retail and private hands. Go have look at the Top20 shareholders. Mostly private investors with few funds on board.
2) Stocks that have been falling for 12mths. Go back and look at your chart.
The other technical influence is that private investors can be fully invested this time of year. It's only after year-end tax loss selling or new financial year profit taking that sufficient funds are freed up for new investment enough to move prices.
Sure a good announcement can run this stock, but that goes for any. However without an announcement then this is likely to come under pressure in May and June. I won't be placing any new funds here until July.
YOJ Price at posting:
8.1¢ Sentiment: Hold Disclosure: Held
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