directors buying up big in this stock

I recently had a look at the ASX announcements and I notice that the Directors of this company have bought over $400,000 worth of shares out of there own money.

This surely is a massive backing of confidence and I would expect some sort of substantial rise in this stock over the next few months.

The company is sitting on so much cash also and I would suspect could be a takeover target potentially aswell.

Given it is also in a stage 2 advance with monthly RSI very strong I thnk it looks the goods in alot of ways.

Interesting to hear your thoughts on this company.