Yes, eight weeks seems to be about right, though of course there are no guarantees. For those that are not aware, what we are awaiting are FDA and Japan approvals for the QFT-Gold TB test. This is already approved in Australia and Europe and, as evidenced from the recent Quarterly Cashflow, we are gradually building sales in these (secondary) markets (USA and Japan are the BIG ones).
From my, albeit limited, understanding of technicals CST has retraced nicely from the recent exuberance and seems to have collected itself at this 230 level. The market certainly seems quite content with the financial progress reported.
You would suspect that the retrace followed by the current consolidation phase would have caused most of the traders to move on. My feeling is that this stock is quite tightly held by investors - hence the sudden sharp moves that we experience from time to time.
I do have to say, however, that it appears that somebody has been exiting their position over the last few weeks. (It is not any of the Directors). Whoever it is, they have not been dumping but just taking advantage of the general buying in an orderly manner. If I am right about this, then when he finsihes there will be very little stock available.
CST Price at posting:
0.0¢ Sentiment: None Disclosure: Held
