A week since it started, speculating that "7.1c looks like a revised bargain-price target" (from a sudden 8c drop to 7.5c), today it could easily have been picked up for between 6.9c and 7c.
Succession,
Your last post on this subject was excellent, but the conclussion was interesting: ... "you need a longer term view here".
Yes, we need a longer term view for whether to sell / hold / buy, but in this case the bigger question is if you want to buy / top-up (as I do), what is the best price to go at?
For a week it looked like 7c would be the support level (and it has indeed been the minimum in recent times, since a brief and massive Opes/ANZ transaction at that price), but it was broken today.
I'm thinking a top-up at current prices (or slightly lower) would be good, with an extra top-up if(/when?) it goes significantly lower again.
If no other factors appear (such as unexpected news or at least some ASX releases / reassurances from the company), it's looking likely to go lower again now that 7c has been breached. The sell at 7c is over 200K, with another 200K at 7.4c, with little on the buy side (200K at 6.8c, not much until 6.5c). And it's only early in the month of June.
For me, it's buying time (again!). A reshuffle of some stocks with mild (tax-time) losses to take advantage of stocks like DES ...
Cheers and good luck to all holders.
DES Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
