Thanks heaps for your input I appreciate it! I do think it will...

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said_smitty

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13/03/19

10:33

Post #: 37743171
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Originally posted by dawatz ↑

Technically in a range trading between around 3.25 to 4 since early Feb. Big spread between buyers and sellers sees big price moves. As both bulls and bears have pointed out, it doesn't take a large purchase to move the open/close around. VWAP (volume weighted average price) seems to be a better guide to where price action is at than opening/closing. Pivot point seems to be around 3.55.

I haven't tuned into the technicals so much lately but briefly my take remains that the bulls and bears continue to battle it out until the announcement of some fundamental news. This will be the results or an update of TB trials and then the 3 month trial. Fundamentally this should push us through to the next stage of development, esp. medical sterilisation applications and the SP should follow.

It was roughly 60 days between the announcement of the TB trials in late November to the announcement of the delay in Jan. If that initial time-frame is any guide then another announcement is due soon. There were statements in the Half Yearly that progress was being made so I'm optimistic that when the news arrives it will be positive.

The spike in price that happened yesterday should mean that the stock will appear on some day-traders screeners if they are filtering for top gainers. This would also generate automated tweets (alongside other screener results) and some day trader interest.

There does seem to be a bit of an upward inflection in the On Balance Volume from around 27th Feb but not sure it's enough to be significant.

Hope this helps.
Dawatz

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Thanks heaps for your input I appreciate it! I do think it will come back down briefly however but should show support at a greater level than $3.20, a $3.50 support would be nice from a technical point of view

PO3 Price at posting: $3.73 Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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