ELS 2.88% 50.5¢ elsight limited

Future Price Action - reply to the Chart Believers

  1. 20 Posts.
    lightbulb Created with Sketch. 10
    Charts in this stock don't matter because there is not enough flow. This is a concept stock. It moves in big increments on news - look at the first six months of its life after the IPO in May 17 - and drifts on lack of news - look at the last 2.5 years since it hit the all time high. Remember only one week ago an order of 50'000 shares pulled or pushed he stock two or three percent in one direction or the other.

    The only thing that matters is news flow. The more +ive announcements the more buyers. 67/75 - none of this is relevant. IF we get FAA the stock will go up 50+%; if we don't the stock will drift back to 30. If we don't have any news this month the stock will drift lower - if the Israeli PoC turns into a bigger order the stock goes up. Etc.

    There are also some insider sellers about which seem not to be particularly concerned about price action.

    My advice - stay long, I would guess if there had been a problem with the work of the drone they would have had to announce it.

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Mkt cap ! $55.64M
Open High Low Value Volume
50.5¢ 51.0¢ 49.0¢ $56.09K 112.4K

Buyers (Bids)

No. Vol. Price($)
2 24734 49.5¢

Sellers (Offers)

Price($) Vol. No.
50.5¢ 30999 2
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Last trade - 13.36pm 21/09/2020 (20 minute delay) ?
-0.015 ( 1.84 %)
Open High Low Volume
50.0¢ 51.5¢ 49.5¢ 10795
Last updated 14.10pm 21/09/2020 (live) ?
ELS (ASX) Chart
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