MC : $11M
EV : $9M
Cash : $14,566k
SOI : 824M
Listed Options : 215M
Unlisted Options : 5M
Key Share holders
Peter Mitchell (MD): 7%
4-H chart
Short Term Price action - Churning at fib 50-38% levels (i.e. 1.2c) for a few days now. Neither bullish nor bearish pressure exists, just sideways, going through 1.2-1.3c channel.
Volumes - Trading at low volumes, volume graph indicates nicely decreasing volumes for past three days. When we had similar volume pattern previously, they were followed my immediate +30% and +50% spikes. Expecting minimum +32% spike (from 1.3c) or +41% (from 1.2c) this time.
With ongoing low volumes, I would not expect stochs to reach oversold, unless there is an extended delay in news.
Risk reward for new STT entries - (as per my estimations) 5pips / 2pips = 5:2 or 2.5 (if enter at 1.2c).
In the Medium / Long Terms - This stock seems to be gradually acquired by medium to long term holders, since January this year. After the high volume of 111M shares on 9 January 2017, it was mostly accumulation phase along the way until the recent rise (see Weekly Chart below). Still no big volumes, all the big players (including some well-respected posters here) seem holding their shares tight!
It is fair to say that there are many holders since sub 1c, or even from 0.4-0.7c levels (including myself), still holding and looking for a few bags in the medium to long term run.
