While this is a far too familiar trading pattern for the LT...

While this is a far too familiar trading pattern for the LT Optiscan faithful, I thought I might jot down some thoughts on what I’m seeing. It’s worth nothing that trading and technical analysis can be slightly less meaningful for a stock like this where, at times, buying pressure can drop off a cliff and the stock becomes relatively illiquid, as evidenced by Friday’s trading where the price was pushed down 9% on 15 trades, worth $8500…. Regardless, for those that are interested and may be looking for an entry point or even an opportunity to top up, there are a few indicators that may be worth keeping an eye on.

Firstly, a chart....

As you can see on the run up to the intraday high of 26c at the start of July, every time the price action broke above the upper bollinger band we saw a retracement back towards the mean. This was reinforced by the RSI indicating that the stock was likely running a bit too hot/momentarily overbought. The opposite also holds true and given the share price action this past week, and as highlighted by the red circle we can see that the SP has breached and closed below the lower bollie. Furthermore, the RSI suggests the stock is likely oversold, indicating that the SP may stabilise and gradually move back towards the mean.

Also worth noting.... Cash balance as at 30th of June was 6.1M, we should likely see a small injection of $577,500 from the 3 million unlisted options expiring in March of next year, which I believe will be in the money by then. It's quite difficult to forecast, but all things being equal, given the current quarterly expenditure there shouldn't be a need to raise capital again until at least mid next year (several key factors can affect this e.g. further escalation of R&D costs, or production ramp-up costs etc.)

Finally, here is the broker data from 04/05/24 (breakout and start of uptrend) to 06/09/2024.
NOTE with close to 70% of the 835M SOI locked up in the top 20, there's approximately 250M 'free float' shares which can and will churn relatively quickly leading into, and upon securing FDA approval.


All IMO and as always please DYOR.

Cheers