How often did santos bounce from 7 to 13 back to 7 again in a period of two to three months. The other point is how often in the history of UNV has it continued to follow that trend on short term double top failed breaks...
What I see was that the biggest holder was buying up towards owning 30% of the company again which upped the price, then they stopped buying. They still only own something like 29.5 so they may start buying again at any stage.
I also note that all of the biggest holders were happy to buy in at a 40 to 60% premium to the current price... Even when money was raised with the SP where it is today.
What all of this tells me is that the 18% or so retail holders control the price, but anyone who is looking to buy seriously understands this price is discounted significantly (as they were always willing to pay more). As such I feel this is all but guaranteed to go up (assuming no monumental black swan) hence it's a buy with patience.
Also on this low liquidity, UNV could easily move 40% in a day on some good news or coverage. If I sell out I miss any of that easy potential gain to try and perfectly time the market, which I believe is a very hard way to make money.
UNV Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
