hey stewar1t , some solid buying came in over the last day or two at these levels and I sense it will likely stabilise around here over the course of the next few days in lead up to the EOFY . It hopefully will do that and then build from here into July and onward and fill the gap .
It is only my view of course but I sense the selling is overdone and we may have seen capitulation here and a bottoming as it seems to have support here . These investment sectors are cyclical and I would expect when sentiment turns more positive in the blues sky stocks and biotech sector and the risk appetite returns we should then see recovery of the sector and in turn the recovery of stocks with good fundamentals like IHL over the coming months .
Whilst the biotech sector has been hammered I feel it has bottomed in this cycle and it seems to have turned in recent days and as sentiment shifts to a more positive outlook that should see the good stocks in the sector such as IHL do better after EOFY and in the back half of the year as they roll out their trial results .
I also have noted as other posters have that there seems to be large offers which seems to cap the price . There has been no negative news from the company so the question I have is why would sellers load the sell side ? Is it due to EOFY movements or accumulation ?
I don’t know but it is weird as the SP has attempted to recover at several points but it seems to me and I may be wrong and likely am that it is being pressed down by whom and for what reason I do not know . Anyway all speculation I don’t know but it is strange that it has been pushed down so far given it seems the company is on track and has done some excellent things in the last 6-12 months without bad news to date . AIMO .GLTA .
IHL Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
