RE: CPX a lot to look forward too..24 Mar 2021 10:38
I agree surprised, Cannacord adding again is a good sign... they were the first to start selling on the rise in mid-dec and clearly saw the dip to 7p as a buying opportunity... Ruffler & Newland's were also selling but the announcement came when we were closer to 14p's..
I'd say 7p's were overdone and we got dragged down by US Tech taking a pounding (can sort of get why we're correlated but surprised to see it affect us so strongly, but the charts show we are)..
PC01 thinks more like a hedge fund here than any of us so yeah bare that in mind.. he sliced near 14p's and bought back in near the 8p's.. apply that thinking to the bigger whales (sorry PC01)
For me we have 10.5 as the 200ma on the 2week chart which we have been rejected from so far.. think it'll take either another well timed RNS and suddenly we get a recovery (Funny how Robert Speed pushes the first ever non essential RNS just after Cannacord tops up - maybe they were having some beers on Hyde Park or something?).
I think that the next 6 months will be good here, this is the build up play imo - shorters will be getting more agreesive because they're sweating, shorters may also be getting more aggressive to let the funds back in long...