It all comes back to investment or trade strategies. I completely appreciate the chartist approach. It does often work if looking at certain investment timelines which with such low liquidity I only see a short term view with CNW. I love the concept of relying on charts as a short term investment as it is largely behavioral finance..... enough people see an up trend and everyone jumps on to ride the 'trend is your friend concept', which in itself is self fulfilling with each following the other thereby driving up volumes and trade options. The funny thing is it is so often a very little reflection of what underlies the investment asset itself.
Yep there is little interest at present but the reality is that 1 great contract would change the chart immediately and then it is on.
Each to there own but I trust the management here based on a longer term strategy which they a pulling together whilst still maintaining cash balances to avoid dilution. Matt Sullivan would not have bought on market at 2.9c if it hsd no plan.
Just my thoughts and money to be made each way. For me I cannot trade freely so medium term is my strategy
CNW Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
