Just a few of my thoughts re the disucssion on here about the seller who has held the CGP share price back over recent weeks..
I think that it is probably a combination of: * accumulator's trying to pick up some cheaper fills (in low to mid 3c range) - and "Walls" hence a few "walls" of sells were put up in mid to 4c range so that this could happen * A seller who had a large holding wanted to exit
These two things combined have probably made the share price hold back a fair deal recently imo.
I see it as a good sign though, that we have seen some fairly large buy orders come through over past weeks. We should not expect the roadshows to create a quick 100% or 200% rise in share price. It creates more awareness of our company that is the main thing. The 40k buy order the other day, 70k order a few weeks abck, and countless 20k and 10k parcels all over the place would lead me to believe that interest is picking up here. It has been a buyer's paradise recently because the large seller has practically just handed out cheap stock to the buyers of whom there seem to be plenty there waiting.
Have seen these "walls of sells" occur on so many stocks before, for the share price of that security to just rally on much harder later on, which is what i firmly believe will happen here in due course (that's no secret obviously lol). I actually take these sell walls as a very positive sign for the future direction of our stock.
We saw today on CGPOA what happens when any sellers offer up stock too low. The 500k parcel put up on offer at 1.7c taken out before close, an order up for offer at 1.8 removed because they obviously didn't want that filled aswell and then someone buys 11c worth at 1.9 and we close on a new high LOL! The point i would like to make about the oppies though is that someone seems very keen to want to buy more and has a big appetite for the stock and whoever has been buying clearly is not holding for a "pump n dump" because if they were many more of them would've sold today. They are waiting for much higher prices to come as am I.
Some are complaining on CGP thread of a share price that is not moving fast enough for them. Well I would say to these people: take advantage of these low prices while you can and don't complain over the next few months (if you are still here) that CGP surpassed 5.7c and oppies surpass 2.6c because as discussed, there's been ample opportunity for the serious investors here to buy at these levels. Namely the share price dips of 8 August, 29 August, 10 Sep, 18 Sep, and a few others in between
It has been a real DOG eat DOG fest on the options today and in recent days. Everyone seems to be "taking out" each other LOL
Of course there is risk involved just like anywhere, and nothing is a sure thing these days so as I said, these are just my personal thoughts (Don't crucify me) LOL
I am here to stay for a few years on the oppies and I very excited and optimistic about Rhinomed's future growth. I wonder if there will be an asx code change once we change from Consegna to Rhinomed?
Rhinomed ;) Has a nice ring to it
Onwards and upwards in comming months imo. DYOR please.
CGP Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
