First time poster at SPL but I have been watching for a long time now.
Very interesting what is going on with the SP recently especially given that the company is expecting some big news announcements relatively soon. I have a few theories but I also have too much time on my hands so I could be chasing down rabbit holes.
Regardless...this is my take.
Fundamentals are good - tick
Directors buying on market recently - tick
An awesome portfolio of products - tick
High-quality management - tick
Prime position for a take-over offer - possibly?
Share price falling - possibly because someone wants to position themselves before a take-over?????
The chart always tells a thousand words. Yellow dashed line: This is a very very very clear place to position a stop loss for most traders. Someone seems to have been smart enough to work that out and given the opportunity it seems has opened the market underneath this line which I can only assume would have triggered stop losses leading to further selling when others saw it close several % underneath this line.
Thin yellow line: This is the 200 day moving average, it provided nice support for the price today but if the price falls below this there is not much left in terms of support until we get to the orange line.
Orange line: As a non holder this is where I plan on placing my orders, there is some clear prior resistance here on the run up, it is nice and close to the $1 round number and it sits smack bang in the middle of the 50-61% fib retracement lines.
I hope for holders who bought in higher that it doesn't reach this low but as I said if it breaks the 200day MA this is where I think it will end up.
Good luck to all holders (but I am hopeful I can snag a few at my target price)
SPL Price at posting:
$1.20 Sentiment: Hold Disclosure: Not Held
