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Technically Speaking, page-742

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dkayed

1,111 Posts.

178

25/02/19

13:14

Post #: 37556231
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Originally posted by Fela ↑

Originally posted by dkayed
Just by looking at the chart. Downward trend since peak on 8 Jan
Can't argue with you on that....obviously a down trend. But are you factoring in the (very) low volume lately?

Of the 10 lowest volume days since since Bill Parfet came on board in November with $9.6 million shares at $2.40 - nine (9) have been in February.

I just don't see - without any 'bad' news emerging - how the 'trend' would result in a drop in share price back to $2 - which is lower than the $2.40 per share price at which BP was happy to come on board. And today we have seen 4% up - with an announcement due in a few days.

Without wanting to criticise - I wonder if your analysis is just based on the slope rather than what is happening behind the slope.

All good food for thought though.

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Yeah that's true. It will probably need a volume bump to breakout, otherwise with dwindling volume continue in the downward trend. GLTAH

PO3 Price at posting: $3.69 Sentiment: Sell Disclosure: Not Held
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