It's actually pretty predictable. Every period upward is consistently followed by a downward one of at least the same duration, usually longer, that pushed the price lower than where it was at before the move up.
This pattern has persisted for several months now (since November 2022 at least).
Some suggest not focusing on daily price changes, but the fact remains that since April 2022, there has been a continuous downtrend with only occasional dead cat bounces. It's more than just daily fluctuations; it's a substantial and enduring trend.
Sure, the entire sector is challenged right now, but our situation is made worse by ongoing uncertainties surrounding funding and the actual client interest, which hasn't been proven yet.
Regardless of the chosen funding approach, it will likely lead to dilution, the extent of which being the only unknown. It will probably lead to a share price drop of 10% to 40%. Until this happens, there will be any significant buying action, so we're staying in this rut.
I also want to add that, with the steering team's poor communication, as Spodven pointed out in his recent post, Galan is probably one of the most undervalued players. It's seriously frustrating and whether you like it or not, regardless of the entire sector's condition, management has a lot to answer for. Sure we wouldn't sit at $2.2 right now, but, hell no, we shouldn't be at 66c either!
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Last
13.5¢ |
Change
-0.010(6.90%) |
Mkt cap ! $68.40M |
Open | High | Low | Value | Volume |
15.0¢ | 15.3¢ | 13.5¢ | $629.7K | 4.381M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
22 | 704525 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.0¢ | 452853 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 704525 | 0.130 |
18 | 721164 | 0.125 |
15 | 1457132 | 0.120 |
17 | 1839380 | 0.115 |
13 | 975189 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 452853 | 6 |
0.145 | 310000 | 5 |
0.150 | 639259 | 6 |
0.155 | 335000 | 6 |
0.160 | 510000 | 5 |
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