AC8 1.92% 13.3¢ auscann group holdings ltd

Chart & TA, page-110

  1. 287 Posts.
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    This is 38% up on no news. There is nothing change din the fundamentals of this company. Perhaps buyers jumped in on the final speculation of good news of product development that had been promised for so long. Also, it's a technical bounce off so much selling. The size of order is something I cannot see on my trading platform as the software group all orders at a price into a single group. I have no way of knowing if there are actually thousands of small order at a particular price.

    I think the share price will drop back on profit taking and the grinding down trend again for the next 5 weeks if we don't get good news. I think they implied the capsules later in 2019 and no arrangement for trials even announced, so the chance of good news for the next 4-5 weeks is very small. This company probably knows by bow that insignificant news or rehash of old news will only bring the share price down further. They must learn from their terrible communication by now. Honesty is the best policy but they surely did not know that in the past.
 
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