I just put the range 9 to 11c as a number where lots of people in the past made buys. Eventually in a downtrend buys in turn become sells. They get anchored to their buy price. Its not 'for sure', its just a rule of thumb that became 'resistance 'and 'support' concepts in charting. Apologies , if this is known to many.
Also it is not like there is a whole lot of information with which to value the company. So I think psychology, hype, rumour and name-dropping plays a big part in the valuation. If there is hype the sellers who want to break even at 11c (a huge cap raise took place here) might overlook their buy price and hold on. IF it gets choppy for a while in this range we will see supply come out of the woodwork.
SE1 Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
