Hi gardener, i remember in my economics class the lecturer once said it takes around 7 to 10 years for a start up to become a great business. The stock market don't take kindly to companies that take 7 to 10 years to become "great", I'm sure with your buy and hold strategy FLC would've done much better in a private listed fund than on the ASX. From the charts, the multi-year downtrend line is truly and well pierced over by late September, whether this is the start of a long-term uptrend is open to debate, however it is extremely unlikely to test the all time lows unless something new fundamentally is wrong with the company. So downside risk is limited. I'm actually doubling up from here.
I do agree with your reasoning the gap up on news is strange, on the day of gap it was driven by $160k order in pre-open, why would anyone place an order in pre-open several price steps above the bid with no news I can't fathom. Have you often seen this kind of activity this stock? And could you elaborate what you mean when salespeople called you participate in the CR?
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