Very important week ahead in my opinion...
Unless I am mistaken, I suspect the underwriter is down to his last few million shares now...if not less...and for the first time in quite a while, may be prepared to let the shares run up a few points.
Fundamentally...the underwriter WILL eventually run out of shares, at which point the penny WILL finally drop and the market WILL bid TOX back up to levels comensuarate with their current profits...and in time, the market WILL even place a growth premium on the shareprice.
All TOX has to do is maintain the current profit/growth trends and impliment the previously announced expansion plans.
Technically...TOX needs to;
1. Close the week under 2.2c to suggest another test of the 2c support level and the possibility of a double bottom buy signal.
2. Close the week under 2.5c to suggest more sideways trading and accumulation at current levels.
3. Close at 2.5c to suggest that support has formed, possibly indicating a near term continuation of the current trend reversal.
4. Close over 2.5c to give an early buy signal on both the daily and weekly charts.
5. Close over 2.7c to give a breakout buy signal on the daily charts and a confirmed buy signal on the weekly charts.
6. Close over 3.0c to signal a breakout buy signal on the daily, weekly and monthly charts.
Cheers!
Very important week ahead in my opinion...Unless I am mistaken,...
Add to My Watchlist
What is My Watchlist?