RE: ……1 day and counting…..29 Jul 2021 17:55
The reason the SP didn't tank is simply because the results were positive enough to avoid any heavy sell off. If the results were bad enough, trust me there would have been a sell off and the SP would have fell further. Even a PI will bail out upon the release of a bad set of results rather than taking a heavy hit as the SP slides.
The reality is ODX had already set our expectations earlier in the year that the results were not going to be fantastic and you could argue that the subsequent fall in the SP leading up to the results was a consequence of this. That being the case the SP is now at fair value based on the results.
Now the reason you give why people are holding onto this share is pure speculation. There will be many reasons us PI's are holding and not selling.....even buying and topping up down in this price region. There may not be any possible downside from here if the bottom is now in. I am not saying this is the bottom but holders will have their own various reasons for not bailing down here in the 50's. I for one am holding as I believe the SP can comfortably get back to £1.00 when the orders start flowing which I believe is just a matter of time.
The frustrations of waiting for these orders differs on your holding position and outlook. The long term investors like me who have invested what we can comfortably afford are usually relaxed about everything even when we stray underwater. The ones who buy shares on T10's with money borrowed from a credit card seem to be the ones that act like an inflated balloon being released, dripping in sweat and fixated on looking at the SP every ten seconds! How can you make rational decisions in such a frantic stressful state. That's why most people lose at this game.
Now one thing you did speculate on which I agree with is........"Sooner or later something has to give one way or the other"
Yes, and it will be upwards......the "when" is the unknown ingredient. Patience will be rewarded and once your trading account goes heavily into credit you won't care that it all happened later than you thought it would have.
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