Or as soon as the buyers feel comfortable that the selling is over. I thought the majority of the selling was over with the first green candle three days ago. However we had another big drop the day after, which was the day the quarterly was released. My gut feel on what happened there was that traders were buying the decline over prior days to sell into the quarterly for a hoped for rebound and profit. The sp initially climbed on release of the quarterly but then slowed and stalled. Then the selling began and the selling fueled more selling as those traders gave up on a short term profit. The next day (yesterday) saw a big recovery from that selling. I think the stock has bottomed. It's going to be tempting to take gradual profits on the way back up but I think the better strategy will now be to be patient and let the recovery play out over coming days and weeks. Nothing has changed other than the recent profit taking so the sp should gradually move to new highs as it moves into and through the regulatory applications.
LTP Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)