If there is one thing I have learnt its not to ignore is the charts. And its bud that taught me that lesson. I was long at 7c when it was trading 42c and still at 0.006c and bought from 20c down to 1c. I bought more today at 5.3-5.5....I Foolishly believing the charts were wrong.... I have lived to fight another day with this stock, but not with many others, EDE, QFY, TAS just to name a few
I will never buy another stock on a dip that does not hold the 100 period ma on the weekly chart. Here is afterpay ...Dropped from $22 to $11 and looked terrible, but the market knew better...the 50% retracement worked and the moving average held and buyers returned... and we all know its $100 today.
Here is bud!! I should have been out at 19c and not buying more.... It would be great to be a new investor at these levels...
Having said that, I learnt my lesson and was a new investor in Wbt based on this chart and an oversubscribe cap raise at 28.5c.
Not cross promoting but its done very well since the cap raise. Not saying this will happen in bud, but the downside from here IMHO seem very limited.
I tend to think Bud will trade like a homesware cot like breville....Unless of course the ohm business kicks off large
here is breville
