2019 Charts, page-183

Looking at the daily we had another potential double bottom at 20c (#5 & #7 on your chart). The reversal was brief but then broke through support shortly after. And a couple of months later the share price had nearly halved from those double bottom supports...

The fact that the SP has been manipulated so easily one would assume there is a market maker here. As such the MM would have shares spread across multiple accounts and have no reason to engage in the 10c rights issue but instead every reason to sell their rights basically giving them a free carry to drop the SP 1-2c below 10c.

Although I can't see this happening before the ex-date as that would give SH's no reason to participate as there'd be no discount. The period between 12th Mar-4th Apr looms as an opportunity to shake out below 10c...

Don't mistake this as a meaningless downramp as I'm a LT holder that unfortunately has bought a few hundred thousand shares more leading up to this ann at a massive premium to current levels. Whats even more unfortunate is my bank is nowhere near as full now so if this were to play out then I cant really capitalise anyway.

I'm just stating the facts as I see them and trying to look from an unbiased view but would be happy for someone to correct me on these. But looking at the charts and looking at the opportunity the rights issue gives to lower the SP it doesn't fill me with joy right now.

@h00ts I'm guessing that's what you meant by short term pain to the SP?