Imo when the rsi is low there is two options -
If a stock is stale with no future short term growth in ip or eps to be had the share price heads lower as holders and traders move out.
If a stock is awaiting future development, contracts leading to revenue or any further product validation this causes more volatility in the sp keeping punters on their toes and holders sticking around for the surge - when the volumes are low in this case it forms a base which newcomers now need to pay more to get in.
With the mass sell out of every sector recently there is ALOT more the the 16mill (as per the spp) sitting on the sidelines, so im expecting a nice surge on next ann or at least another build up as we get towards june.
Remembering there were big buys of $150k+ made around the $4 mark, imo they were waiting for a big move and doubling their holdings. So come June we should see similar movements.
The big boys have their eyes on this and will want to get in before retail pumps this again.
Charts, page-1951
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Last
$2.52 |
Change
0.010(0.40%) |
Mkt cap ! $476.0M | |||
| Open | High | Low | Value | Volume |
| $2.55 | $2.56 | $2.50 | $505.6K | 200.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1781 | $2.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.53 | 3477 | 8 |
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| Last trade - 15.29pm 15/07/2024 (20 minute delay) ? |
| WBT (ASX) Chart |