RE: OUT AND IN30 Aug 2019 15:50
I’ve been a holder here for months, the likes of Canoncan has been here much, much longer. Apart from the initial rise the rest of the rises have all been steady typically between 10-15% a day (coupled with the occasional red day) and its been a gradual process arriving to where we are. Hence why the level we’re currently at is so strong. Resistance on the way down is at 6.5 and on the way up at around 12p - with the tiny amount of volume thats available to public this moves with smallish buys, as shown today. The bid has been as low as 6.7 however the ask hasn’t dropped below 7.4 as the mm’s dont want to risk someone coming in lower and taking whatevers available, as that is what will happen.
Yes it will take time to get to where we want to be and doubt may creep in from time to time with some investors, however those that have researched understand how massive a opportunity this is, with some patience. Fully funded until mid 2020 (biggest threat to any share of dilution - eradicated), strongest pipeline of potential contracts from new and existing customers theres ever been, 7.5 million annual savings plus another 3million from a contract that cost ide money over the 3 years.
We now have so much more going for us than last year when the price was 30p and its only a matter of time until we get there, you can bet when contract news lands in the short term this will bag from wherever its at as the mm’s are looking for the right opportunity and timing to pick up as many shares as possible before taking it up without allowing anyone in - for that i dont blame them. Only 2-3% shares available as over 90% owned by ii’s and a further 5-6% minimum in sticky hands, those ii’s paid 25p+ for their shares and the chief exec has recently stated the intention is to get back up and surpass that range in the short term.
A red day gets some nervous but those aren’t looking at the bigger picture, no shares move up in straight line and its good to consolidate along the way.