I was today reminded of the existence of this company so took a look at the chart.
The 4 year chart shows, in my opinion, a very significant trend.
The stock simply has not got past 0.6 cents in just under 4 years.
I wonder whether the same pattern will continue, considering the number of shares has ballooned well and truly above $3bn and the company is in debt.
I mean, we've all seen for many years discussion that "this year is the year" but it has not eventuated yet.
My personal view is that the charts and volume analysis suggest that the stock will simply revert to support at 0.3 or perhaps 0.2 cents, like it has done in the past 4 years.
I'm pretty cautious when it comes to high SOI stocks with the capacity to jump from a $9m MCAP to $18m MCAP for no apparent reason - especially when the company currently has debt (as per the last annual report).
LNY Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
