Hello Southoz.I like your analysis as it opens up a good debate...

Hello Southoz.

I like your analysis as it opens up a good debate on charts etc.

I also have an analysis about the current share price and it's up/down movement of late. It's probably more of a theory than an analysis though.

IMHO I don't think the current SP is going anywhere soon due to the ASX buy/sell rules. Below 10 cents you can make 0.1 cent bids. Above 10 cents you can make 0.5 cent bids only.

100,000 @ 9.8c = $9800
100,000 @ 9.9c = $9900 ($100 extra cost or $100 profit)
100,000 @ 10c = $10,000
100,000 @ 10.5c = $10,500 ($600 profit if buy @ 9.9c)

So I reckon the pump and dump will continue in the 10/11c to 9.8/9.9 range until the SP clears 15cents, where the 0.1cent bids are a little more further away. Thus, there is not much profit buying and selling in the 9.7/9.9 range, but a lot more profit buying and selling in the 9.8/9.9 to 10.5/11 cent cross over range.

We will have to wait for a good announcement to clear this current trading range.

This also happened last year when the options PRRO + conversion where 0.5 cents below the PRR SP price. The bots kicked in and I believe the options where purchased and then sold as heads in the space of 10 seconds. This continued over several weeks until the options and the heads leveled out with no price advantage.

As I said, it's just a theory, but the SP has been trading in this range for quite a while now.

GLTA