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We’re all still here CryptoChris, but avoiding the hype and rapid pump and dumps when the stock is flavour of the day without any news. Can’t see it ever hitting 2p like some, but it has to re-test 5p floor before anyone takes this stock seriously. Hope many didn’t lose out buying into this afternoon’s hype.
Sadly, the spike is purely down to the early doors move to blue catching the eye of day traders, all the usual suspects are up today so, plenty of spread betting going on this morning. This has to re-test the low before it can bounce, just look at the weekly chart down trend to see why.
The last bounce from 5p was a lucky RNS announcement, sentiment was low and was looking to break lower before the lucky announcement. There will be no further news until the results are released a week from now, rarely are quarterly’s released early. Hold or take profit along the way by all means, but it will go lower and it will absolutely touch 5p between now and next Thursday, but whatever the trading results announcement says, it will bounce higher, momentarily, before the profit taking crashes the sp to current levels again. I estimate 23rd August when he’s at 15% holding, will we start to see this climb, not before, it’s just too volatile for any serious long-term investors.
So be it, day traders can chase 5-10% daily returns if they so wish, I’m not judging, just felt the need to point out the reason for their lack of return on this stock. Less than 5 days holding on this stock would generate double the return if it reached 19p/20p than they’d make in 10 days chasing rainbows. Nothing more.
Good sign of upturn, the frat boys have arrived on the thread. Whoop Jeagerboms, beer pong, pump and dump... SIGH. SP isn't worth zero and everyone's nervous about entering at 10p with a high of circa 185p, how crazy. Historic low is 5p remember. This company is sound, it has ample cash reserves and is generating monthly returns just from the repayments without new customers. FCA has nothing on them and the 1% daily sell off of 4.75m shares is just noise with the average 40m trade volume. Take profit at 8.30/8.45 by all means, but reinvest at the lows. Seriously, all you need to do is just hold a few days, guys. Hot money trying to make a daily profit is the cause of the volatility and your losses. If everyone just entered and held for the short term, the SP would be up beyond the JB offer in no time. It's really that simple folks. No old money is even going to touch this for the medium to long term with this kind of daily swing and volatility. Patience is a virtue.
The RNS is in (Number : 9925R) So, he's down to a minority 49.66% holding, but no impact on SP yet/if at all. Clearly didn't make a huge dent with the volume today.
Share holding announcement is in - He's down to a minority 49.66% holding
https://markets.ft.com/data/announce/detail?dockey=1323-14602786-0I9TMUETJTK5ULBOQ7EK1DAO2K