Agreed, the limit this can fall fundamentally is $42.22m
"I guess the risk there is a big announcement comes out and because there isn't a lot of shares on offer, they can't take a decent position after the news, or breakout has occurred."
No risk really, trends that start with a gap up for break out means you miss the first part of the trend, no big deal and certainly not a reason to enter and sit in a stock, especially a stock that is not that liquid like HIL. Usually with a break out and increased volume one is able to take a position.
I wish i had a $$ for every time someone has made the comment of "get on in case you miss out", there are over 2,000 stocks on the Aus market and there are always some that are moving in the right direction.
Sorry I cant put a chart up, i have looked at all 3, daily, weekly and monthly and they all reflect the same view.
No chart expresses a consolidation, they all display a downward trend which has not been broken. All three time frames still look very ordinary.
I do agree with you, To move the stock, it does require considerable volume, who knows when that will be.
From the high on 02/07 to the high on 21/09, draw your trend line and lets see when it breaks, possibly then a break of the trend.
Longer term trend line from top of 10/01/18 to 02/07/2018, needs to break for a reversal.
Action is currently at the bottom of that channel, much clearer on the weekly chart.
The trend is still down!
HIL Price at posting:
18.0¢ Sentiment: None Disclosure: Not Held
