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how come this oversold despite the holding rns yesterday
Armistice Capital, LLC
is the buyer
Patience is a virtue, easy hold and those that cant ought to lose a few quid. Xmas sales early here. GL
Well high time euro grant 2 million last year 1 million from the Spanish government . Production started in Bilbao ..all facts not fiction. Poor performance by ii in pharma sector is Woodford,hence the weakness.
They say that nothing in this life is certain except death and taxes hence the grant is not 100% until the paperwork is signed early next year. With a share price sub 3p surely this prices in any risk of the grant not being awarded? From earlier comments on this bb it looks like the sp was manipulated yesterday and buyers, imo, are getting a bit of a bargain today. Exciting project if it gets the green light....
bounce coming
True dvharrison and it will soon, MPTH is currently heavily oversold on TA Charts due to (imo) ii cashing out. the early morning drop was a resonance to the drop on Nasdaq yesterday although no meaningful volumes were sold here this morning. It hit the Pivot Point 1st Support Point of 2.22 and bounced back up. If the seller is done (cant see any meaningful selling so far) then we will have nice recovery from these levels very soon. BOD paid double the current sp two months ago to top up .. As for the warrants : ["Midatech backer (US institutional investor) will receive warrants for US$1.25 each, or 4.9p per UK share "]
MTPH Technical levels:
Pivot Point 2nd Level Resistance 4.520
Pivot Point 1st Resistance Point 3.635
14 Day RSI at 30% 2.923
14 Day RSI at 20% 2.766
Pivot Point Support Point 2.220
I'm amazed at the 'market' response to a very encouraging RNS. Should now be trading at 3p+ imo..
well it,s gone to 2.6500p to buy
All the favourite stocks are oversold..imo including mtph, msys, nfx, Imm, kefi despite good news...it seems market is subdued and II are looking for election result before committing..imo
I'm still looking for my entry point here after that very positive RNS. Where is the bottom? SP getting better and better (from my perspective!)
EAL - thanks for sharing.
It was indeed great news and its good to see the guys at Midatech are as perplexed as we are re share price.
I believe the mm’s took advantage of the afternoon rns with eyes elsewhere and played on the sales. They would take all of my (modest) holdings in one go above bid all afternoon once they bought the bid down to 2.7.
They will let it go at some point in the very near future and until the sub 3p is a bargain given recent news flow by way of rns including the number of director buys recently above 5-6p.
I’l be adding in the morning and throughout next week around the 3p range. GL
I just saw the following on Stocktwits which is a US social media platform designed for sharing ideas between investors and traders.
Someone on there emailed Tim Metcalfe (Investor Relations at Midatech Pharma) in regards to the share price reaction to the RNS and this was the respond received:
" Hi Jeff
Don’t worry, I share your frustrations! As well as being an adviser to the company, I am also a shareholder. The stock was up 45% in London in the hour after the announcement went out, an appropriate response in my view, only to close only 3% up following the Nasdaq trading and its obviously gone down further since London close.
We live in interesting times and I unfortunately see on numerous occasions here where good news creates liquidity and the sellers take advantage, ultimately pushing the price down.
This was very good news today and I will be looking in detail at what’s happened in the market and what, if anything, the company can do to address the issues.
All I can do is thank you for your support and patience.
Best regards
Tim"
Screenshot : https://i.imgur.com/MPpNsq5.png