I remember EDE, Eden Energy - they had a chemical compound formula that could harden concrete faster and harder. Once they proved the chemical compound worked and was commercial the share price went from half a cent to 33 cents with 90 days.
Ended up being $500 mil market Cap, even though they only had cash receipts for the quarter of only $90t.
The market looks for 2 things IMO,
1, Does the technology work
2. Is it or can it be accepted by the market place.
Prove those two things and the Insto/smart money and traders will be all over it. For CPV at only $300mil market cap that's $3 a share.
What's interesting also about ClearVue is that they are in the right sector, that is, Solar and Renewable Energy.
A lot of money is being thrown at this sector and it has the high PE's. That's why this stock ran to 83 cents not long after listing.
Stocks technically tend to re-test their highs so I reckon this will retest 83 cents soon and if it breaks a new high it will be game on.
However looking at it technically I reckon a "Cup and Handle" will play out here - it will retest the 83 to form the right side of the cup, pull slightly back due to some people wanting to get off, which will be the handle - then a break from the handle will see a new high and make it's way well over $1 -
it will be the fundamentals that act as the inflection points and the trigger of course for this to play out.
But I see this unfolding.
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Last
24.5¢ |
Change
-0.010(3.92%) |
Mkt cap ! $98.52M |
Open | High | Low | Value | Volume |
25.5¢ | 26.0¢ | 24.0¢ | $83.16K | 334.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 30000 | 24.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
25.0¢ | 28727 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 11957 | 0.420 |
2 | 20921 | 0.415 |
4 | 123661 | 0.410 |
1 | 2471 | 0.405 |
8 | 40055 | 0.400 |
Price($) | Vol. | No. |
---|---|---|
0.435 | 16870 | 2 |
0.440 | 39572 | 2 |
0.450 | 6157 | 2 |
0.460 | 31026 | 5 |
0.470 | 21978 | 1 |
Last trade - 14.39pm 15/11/2024 (20 minute delay) ? |
CPV (ASX) Chart |