Australia's largest stock trading and investment forum Australia's #1 stock forum

SPT

Click for more information

0.00%

7.5¢ splitit payments ltd

SPT - Technical Analysis, page-305

First 305 Last

Share
Profile

Follow
rahmukh

994 Posts.

38

24/09/20

15:07

Post #: 47602789
Share

Originally posted by raulhuynh: ↑

I simply follow chart patterns.

1. SPT just fell off the uptrend channel (the pink lines)
2. Fibonacci from the last mad run to all time high indicates share price would retrace at least 50% which is in line with the cap raising price $1.3
3. However for a strong retrace share may hit 61.5% ($1.15) or even 78.6% ($0.925)
4. EMA200 is around $1.05
5. All indicators are pointing down strongly

So with the new issued shares hitting the market tomorrow, and my experience in many share raising before: shares nearly always come down to the raising price, next week could see share price pushed down to at least 50% Fibonacci level or below, hence my prediction within the range $1.15-$1.3.

I just hope it does not fall to 78.6% Fib!

All above may become invalid if there's positive news which would spike the price up!

Imo

Expand

Well looking at what's happening, what you say is a possibility or closer to your numbers. SPT just doesn't move up much. Cap raising is just like IPO, over subscribed but then retraces back

SPT Price at posting: $1.40 Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

IVR

Investigator Resources hits 8m @ 1.06% copper on-site Stuart Shelf JV project acreage

BYH

Bryah gains $408K government rebate for work on copper target Narracoota

AI stocks: What to expect in 2024-25

Talking the US election, the spectre of Trump and what's hot on the ASX200: Wealth Within

WC8

Leia pegmatite pulls up recoveries of 84% lithium for Wildcat in WA

There are more pages in this discussion • 231 more messages in this thread...

First 305 Last

Add SPT (ASX) to my watchlist