Hi FolksTime for another chart. With 6 months to go to possible...

Hi Folks

Time for another chart. With 6 months to go to possible approval. it doesn't look great.

Neville's still around. At my rough count he has acquired about 1 million shares. However he is slowly lowering the bar to attract the sellers.
At last look today he has some buy orders for 35K in at 0.48 and also 30K at 0.455 and 20k at 0.45.

As you can see on my chart I have a support area at 0.48-0.50. If he manages to attract sellers at 0.48 then that support may break and he will lower the bar down to 0.455.

Not good, as the next possible support could be at 0.425 just beyond the 23.6% FIB. So if the sellers arrive at 0.45 he may continue to lower the bar down to the next support. That's so far, remembering 6 months is not so soon.

It just remains a question of whether the sellers arrive. That's unpredictable.

As a chartist this chart does not provide a lot of comfort. It is evident that to bounce off the 0.48 support we need another serious buyer to arrive to compete with Neville for shares. Not holding my breath.

cheers Lies

PS If 0.425 breaks I might have to go searching for that piggy bank.