I think we will see lift-off very soon with this stock.
At the moment the price is being held down by cappers who are hungry to get more stock at these ridiculously cheap prices. But once they've finished accumulating they'll let it run. Just my opinion ;)
I know that from a technical level people are suggesting $2.50, but I think that's too high, too soon. It would cause a blow-off top.
Let's be realistic here folks.
My gut feeling is $1 will be breached within the next week, and my 6-week price target is $1.75 on strong volume. But be careful because, technically, this could run to well over that much quicker. Those prices don't factor in any takeover play either.
I know lots of people here will disagree with me and say that the share price is worth $3, but I'll cop that.
I think eventually a re-rating to over $2 is on the cards, but this must first consolidate with strong buying beyond $1.60 within the coming weeks.
Judging by the size of the parcels being traded, the big boys are yet to enter this stock. The smart traders will enter once the volume picks up.
It's frustrating to play the daily movements, just close your eyes and open them in three weeks time. I think we'll all be pleasantly surprised.
Goodluck holders.
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