Nice charting, I commented in a previous post on 8.4c being some light support (longer term) but on volume the 7.5c and 6.5c is probably more appropriate and relevant due to recency (wishful thinking re 8.4c on my part maybe)...
Unfortunately this is a level we might see a few FOMO traders at circa 11c stop out (or will they top-up, maybe a bit of both). I was considering topping up at 8.4c but your charting has steered me to a lower number and the price action today indicates maybe there could be more coming here (Cap Raise)...
I hope not as there is some news flow coming hopefully, but I am beginning to think that unless it is a big deal (JV partner on ASD trial) or other monetisation then the CR risk will outweigh in the short to medium term. Cap raises at this end of town have not been kind lately, 20-30% discounts and trading under raise price, and limited retail offer (i.e. insto placement) - so that would really be a worst case scenario between now and Christmas...
Need a partner to stump up some $$ and give this thing some financial before it dies a death of a thousand cuts back to 6.5c for a discounted raise. This would be very annoying given how long it traded over 10c and thy could have conducted CR at 8c, but they would be lucky to raise anything meaningful at over 7c today IMHO.... Hope I'm wrong as I am long, sentiment dropped to Hold until funding is sorted.
NTI Price at posting:
8.6¢ Sentiment: Hold Disclosure: Held
