I'd look at the market cap rather than the SP and i'd look to support and resistance levels to tell you why the fluctuation in SP or the "brakes on" situation is occuring. 16c is current resistance, we already had a break to 16c. "Breakout" or to "break out" of a trading range or a break-beyond resistance levels.
I'd assume we'll break 16c when spud is announced and find resistance turning into support at 16c with new resistance at 18/20c which in turn will be resistance pending results from drilling or any other announcement or development in the interim.
Beyond 20c you'd be looking at historic support and resistance. To be honest, after 20c i think we'd be looking at quarterly and full year accounts for guidance.
DYOR
CTP Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
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