AC8 1.92% 13.3¢ auscann group holdings ltd

Chart & TA, page-62

  1. 979 Posts.
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    Really is ugly to look at. Given the new director does not start until May, and the amount of shares still being drip fed to market as retail average down and punters fill the queue.
    One thing I learnt very early was the myth of averaging down as good, and even more so buying into a falling market or going against the trend. Better off waiting, you'll not only get a better price but the confirmation of price moving in the right direction which results in making money.

    Literally better off having a day at the TAB then throwing money at this free fall. Retail buyers are just supporting the brokers game plan by being buyers to stock they will be selling none the less as time goes on. Personally I would not putting my self out as bait.

    Gaps to close from here. Not sure why it would be appealing to anyone technically until bottom is in, gaps are closed and a clear reversal indicator.
    I am looking at IPO prices to be tested. Some good money to be made on the way back up tho if they can pull it together or the ever faithful pump.

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