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09:25
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Originally posted by Scarpa
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Gee, you would think that the earth had caved in here. Obviously too me, and since everyone is looking at people's posting history, is that a good announcement needed to go over 10c. I felt this way for days as my posts show. My only surprise was that I felt the floor was around 9c so that has been broken hence why I feel it might go lower. I did sell some of my shares to free carry over the last two days but I felt without news (I mean significant meaty news) this share will find it difficult to crack and stay at 10.5c and above. Furthermore, no qualms with what HD has done - as I can see he advised what he was going to do pre market and did it (who cares move on, he still holds 6m shares, probably more than most of you). I feel we have too many shares on issue hence and this is part of the reason difficult to break 10 without significant news. And here is what I said on 28 May. Since this post I advised that the walls at 10.5 were getting stronger with not enough volume, and yesterday we saw from very early on sellers>buyers - shareholders were getting tired."I expect share price growth into the mid tens within the next few weeks as well but it will need to be fed by actual revenue numbers and a chippie (and preferably forecast profit numbers to be sustained there so 6 months to 1 year down the track we don't get hit with a CR). Reading some posts here over the last week or so I find comparisons to BRN completely unhelpful in that regard - the only link is expect price to rise initially and we have done that from 3c since relisting - there is more scope IMO to probably mid 10s, but 40c requires some solid announcements with revenue and profit number IMO. It is MC that is a driver of value. When BRN hit 40c (now 18c) its market cap was around $280 million. When IOT hit 18c (now trading at 10c) its market cap was $100 million. Our market cap is roughly $210 million fully diluted now (as expect all the July 2016 options to be converted). So I agree that XPE is better than IOT and BRN but 40c puts a MC of around $850 million. It is revenue and the chippies which will drive SP growth beyond 20c IMO - it might go past that initially but expect a trace as has occurred with BRN and IOT if it is not underpinned by profit outcomes that hold such a MC as well when the heat is taken out of the buying frenzy I still think we need a serious announcement to get us out of these pips permanently because the walls at 10.5 - 11c requires good volume (and we haven't had it in more than two days trading at those levels). "
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Scarpa. You were correct about a floor being at .09 cents, actually .089 cents according to my chart. When that support level collapsed the fall increased to where it is now. My chart shows the next level to be at .062 cents but that level is increasing slightly every day, so I think mid to high 6's is as bad as it will get. It doesn't necessarily have to go that low at all imo, but in the absence of positive newsflow and time and impatience it is a definite possibility .I think their will be resistance at .09 cents in the event of a rally.
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