Does the technical analysis show people selling at $2.25, with difficulty for price rises above this point, from people who bought shares at both higher prices and 15c (before 15:1 share capital consolidation) and want the choice of realising a capital loss or nil capital gain?
It would be highly inappropriate for an accountant to suggest that people might prefer having this choice, just so that they could get away with repeatedly not disclosing CGT events with nil capital gains (as low audit risk and zero penalty tax), change tax agents, redo historic workpapers, and end up paying far less capital gains tax over the years than the tax office would like. I would never dream of advising people to do this.
NCZ Price at posting:
$2.20 Sentiment: Hold Disclosure: Held
