PCK (ASX) pck chart

Originally posted by Lucretious ↑

My notes:-

Facts and opinions as I see them:-
1. Price since end of April has jumped from 3cto 19c high or over 6 times, in other words, it's had a hell of a run.

2. The peak came on 3 June 2019, when priceopened at 16.5, hit 19 then closed at 14. So, bottom to top on this day was 14cto 19c.

3. Volume on June 3, was the 4^thhighest day since April 30, the Morrison Gov announcement. So there was some profit taking that day, but volume wasnot extreme, so some took some money of the table, and after a 6 fold run, whywouldn’t you.

4. SINCE 3 JUNE, ALL THE PRICE ACTION HAS BEENBETWEEN 14 AND 19C – Purple box. And it has been on very little volume – very telling clue as to what is happening in people’sminds. They are holding their positions because suddenly there is some action,government backing and some view that the growth in use of the app and othersto follow could be mind blowing. ( element of euphoria). So, the view of manyis likely that you can’t afford to getoff the train knowing a news event or events are coming in one form or anothervery shortly.

5. The 3 candle formation of 12,13,14^thJune is a reversal formation, though itwould have been nice to see higher volume on Friday 14^th –Geopolitical issues, on a Friday, temperedrisk leading into the weekend IMO

6. RSI is falling from over 70, to below 70.

7. MACD has crossed bearishly, butit’s not definitive.

8. Allbut one day from 27 May to 31 May closed outside the top of the Bollinger bands. Price action on 3 June brought priceback within BB’s and price has headed sideways looking to find the median bluedotted line.

9. 34and 100 day exponential moving averages all still heading up, though 8 lookslike it may have flatlined for the moment.

10. The real bust out move was from around 8 to 19, = 11c. Price hasretraced that move almost exactly 38% to 14.5 ish (I say that because though 3 c to 8c is better in % terms, it did not show more extreme psychology,and there was a big gap from 3 to 5.5 which could not have been traded. It hasthe feel of a move that people couldn’t quite believe so they didn’t pile ininitially.

11. Turning to a weekly chart, the action between 14 and 19 is close to thegap size in the chart going back to Jan 2014. The gap there is 13.5 to 17.5. I don’tthink we have actually closed over 17.5 recently since 3 June

12. RSI massively overbought, but in astock on a run, that’s not a huge concern.

13. GMMA’s have well and truly separated, a positive sign indicating startof a longer term uptrend.

Conclusion
SP has had a heck of a runon one piece of news, which served to validate the business model and product,so in those terms, the announcement itself was bigger than the revenue in theannouncement, due to its leverage potential.
Price is consolidating inthe 14 to 19c band. Current price and historical action at these levels suggestconsolidation before a further move. Lack of volume suggest everyone is waitingfor more news before taking any action.
There are short term technicalindicators that conflict.
Fundamental news will bethe driver of the next move and if news disappoints, price may drift lower. Severalpieces of news are possible/likely shortly.
Revenue base needs tobuild to justify market cap. Caveat – US entities will value this on muchhigher values than the Australian market place.
Geopolitical risks, whilstprobably not a direct influence on this company and product are a macro factorto consider.
I think there are almost190 million 2c and 3c options expiring in Oct and Nov this year held bydirectors and brokers, less any already exercised ( I haven’t checked). Bear in mind this potential overhang, though IMOthese are in sticky hands and will only serve to provide the Company with cashto roll out its developments.
BULLISH OVERALL

Expand

thanks really great summation of various points on this and the risks too around the share price.

No.	Vol.	Price($)
3	552933	3.3¢

No.

Vol.

Price($)

552933

3.3¢

Price($)	Vol.	No.
3.4¢	471650	3

Price($)

Vol.

No.

3.4¢

471650

No.	Vol.	Price($)
3	552933	0.033
5	911562	0.032
4	427411	0.031
10	4381666	0.030
3	1000001	0.029

No.

Vol.

Price($)

552933

0.033

911562

0.032

427411

0.031

4381666

0.030

1000001

0.029

Price($)	Vol.	No.
0.034	471650	3
0.035	521179	2
0.039	149999	1
0.040	401723	3
0.042	156028	3

Price($)

Vol.

No.

0.034

471650

0.035

521179

0.039

149999

0.040

401723

0.042

156028

(20min delay)
Last 3.4¢		Change 0.001(3.03%)		Mkt cap ! $55.61M

Open	High	Low	Value	Volume
3.4¢	3.4¢	3.4¢	$6.313K	185.6K

thanks really great summation of various points on this and the...

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