A day like today can always reveal a lot about a Company's activities, its support & its future direction.
For an example, if the Company is doing another placement, then you can almost guarantee that the lack of big ticket support during the past few trading days is the direct result of the placement investors not being able to trade the stock. Now of course this is just theory based on their behavioural pattern.
The flipside to this is though, that if the price has been set - very possible as the GM is on Friday - then you can bet your bottom dollar that this price will be protected and quite vigorously.
So I will be looking for a strong level of support a couple of ticks above any potential placement zone. I think the last one was done at 11cents - So I would expect 11.5cents - 12.0cents to be a spring board if it comes close.
Anyway its all theory until someone proves it.
Good Luck
IMO only DYOR
GDN Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
