Australia's largest stock trading and investment forum Australia's #1 stock forum

AC8

Click for more information

1.92%

13.3¢ auscann group holdings ltd

just need someone to put out the bushfire

First 543 Last

Share
Profile

Follow
rastus64

7,826 Posts.

67

05/02/19

10:57

Post #: 37332389
Share

Originally posted by dmaivn: ↑

I only use chart to guide me on the behaviour of traders on how long a trend is or how fast the move is. If you use the previous pattern as a guide, the selling would not abate until there is about 8 days of sharp selling. Last time it moved 30% down over 8 days. We haven't got to 8 days of selling in a row yet. The down leg last time was 6 weeks long. We still have at least 3 more weeks to go. I think this company will not come out with any news to defend the stock as they really have nothing to tell the market. I think they outsource most things. They probably only collate the information and do very little while they wait for their partners to do the work.

The selling is like a bushfire. It will stop whenever the shares they want to sell run out. There is no support by the look of it as buyers are scared the wit out of them at this moment. We might even see it testing the low of 46c. The share price at the close of the day when it set the previous low was about 48.5c. I bought in at 47c on that day. Today will will certainly breach that closing price. I cannot see any thing that will lend support for the next 7 days unless the company comes out with some positive new news.

Expand

just need someone to put out the bushfire

AC8 Price at posting: 48.8¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

FNX

Aussie Broadband set to kick off share buyback starting Q1 CY2025

There are more pages in this discussion • 640 more messages in this thread...

First 543 Last

Add AC8 (ASX) to my watchlist