standing the test of time, page-4

TDA, in the three week shake-out following THE ANNOUNCEMENT around 18 million shares were shed, close to 10% of issued capital. In the next five weeks we have seen less than half that, about 8 million, in steady trade around the 27-31 cent range. All the indicators I use show accumulation. 5, 30 and 90 Day Moving Averages, plus RSI, are all tight. Bollinger Bands are also coming togther in a squeeze indicating another break to the upside. The uptrend from the March 7 'low' of 21 cents is firmly in place.

Given the fear and loathing in some sectors of the market, Unilife has indeed held up well. To my mind this shows that while there are a fair amount of traders in play, the majority of holders have a longer term horizon. Also that the wider market likes the story and progress thus far, and more importantly, see value at these levels and are happy to buy in expectation of further gains.

FDA and the first milestone payment in September should consolidate this sentiment.