TA (Technical Analysis) is academic at this stage of the game. FA (Fundamental Analysis) is all that counts. I think the market is pricing in less than good grades from current in-lab assays. Bearing in mind the stock had a stellar run from ~$0.60 to close to $3.00 based on visuals and management excitement only, it is only natural to expect some pullback.
In essence, the market for CPN is currently trading on guesswork, until assays are released. The sequence at which those are released will be key. If X-29 are related first, and it is a duster, expect more pullback (I expect some pullback already factors in a duster).
If the others are dusters as well, we will be back to $0.60 and the game starts all over.
If the others yield good grades, it will be back at $3.00 in a flash.
TA (Technical Analysis) is academic at this stage of the game....
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Last
8.0¢ |
Change
0.003(3.90%) |
Mkt cap ! $7.541M | |||
| Open | High | Low | Value | Volume |
| 7.8¢ | 8.0¢ | 7.8¢ | $7.304K | 91.31K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 33913 | 7.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.0¢ | 31384 | 1 |
View Market Depth
| Last trade - 16.10pm 01/05/2024 (20 minute delay) ? |
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Last
8.0¢ |
Change
0.003 ( 3.90 %) |
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| Open | High | Low | Volume | ||
| 7.7¢ | 8.0¢ | 7.7¢ | 18523 | ||
| Last updated 15.28pm 01/05/2024 ? | |||||
| CPN (ASX) Chart |