Uptrend as been pretty decisively broken with around 5 sessions underneath it. Could it be a bear trap? maybe? With trading as low as 6.1c so far, the support at 6.4c has been broken essentially. Could it be a bear trap? maybe? But it doesn't look good. IF whoever is selling keeps selling, and breaks down further, we may see 5c, and if that breaks 4c. Pretty self explanatory on the chart. At 5c could n 85 M valuation make sense? yeah I guess so if institutions really weren't having any of it,, Make the following assumptions: 25MM in rev, substantial overhead and 3-4 x multiple industry standard for a logistics company as a majority of the incomes is derived from logistics AND discount the entire underlying tech component of the business to being worthless + assume nil growth? Pretty wild assumptions to make for the investment, but anything is possible. If you wanted absolutely 0 risk I guess that would be the valuation to get in at. Looks like it may be a bumpy ride from a charting perspective. gluck
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