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20.5¢ resapp health limited

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Siva108

8,758 Posts.

580

09/10/19

17:08

Post #: 40799349
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Originally posted by Levelgrinder: ↑

Whist this is not a "technical" chart comment, with all the talk of levels of resistance and support, this is more of a psychological share price behaviour comment, and just my take on things.

People need to bear in mind that three years ago this stock got to $0.50 on very good volumes. And then crashed fast and hard on bad trial results. People who ask "why would anyone sell now??" need to realise that there are a ton of people who bought a ton of stock on the run up to $0.50, and then got trapped in the fall.

Many of them would have sat on their shares rather than take a big capital loss, hoping for another run up to try and get out. As this share price again starts to run up many of those people who got burnt then are now taking the opportunity to get out, some at their break even, and some at a much smaller loss than what they had.

This sort of "historical overhang" is why you see selling at these levels, and will continue to see selling by disgruntled long term holders who have been waiting three years to get out, until we clear that historical high of $0.50. If/when we clear that then we are into new territory.

Just my 2 cents worth on the current situation, imho etc.

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Except now is the exact time not to sell IMO. With commercial deals on the horizon in Europe, now Australia and probably China and FDA approval things are only just heating up.

RAP Price at posting: 33.5¢ Sentiment: Buy Disclosure: Held
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