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18:03
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Originally posted by ecneitap:
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It would be good if people kept the conversation to what the thread is titled rather than bagging each other. There are a lot of new people on this forum now whereas previously it was just a small number of longer term holders who have always kept it respectful. People will always make outlandish statements like it's going to $1.00 or $2.00 or $10.00 - yet it's generally nothing but speculation and guesswork and wishful thinking. I've been trading using technical analysis and chart patterns for over 20 years and can tell you now that projecting price can only be done on a short term basis based on price action and mini milestones being achieved along the way. It's the footprints being left behind on the price chart by insiders and the larger players that sets the trend and the pace of the trend. And you can't compare SOR's MC to other businesses in the same sector and just automatically think it should be valued higher. Every business is at a different level in its evolution and therefore valuation. It would be the same as saying Bendigo Bank's MC should be the same as CBA as they are in the same sector !!! Obviously ridiculous !
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'In relation to SOR, here are some technical facts. On the weekly charts, since it's listing in 2011, it has never closed out a week above 24.5c. This will be the first significant milestone telling us that SOR could be the real deal from here. It may even happen by close on Friday yet we will just have to wait and see. So what I'm looking for 1st is blue sky aligned to weekly closing price. The second is above 39c which was the intraday high achieved back in May 2015. If it can close above here on a DAILY basis via a move that sticks moving forward, then the accurately measured longer term pattern target post this is looking for 75c .'
