6’s close16 Jul 2020 10:48
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.