VXL 0.00% 11.5¢ valence industries limited

What is the bottom?

  1. 5,950 Posts.
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    When the company broke down through established resistance at 46c I said sell next resistance 40c. I was fairly confident 40c would be respected but it wasn't (lost some $$ on that bet). The chart now suggests much more downside from 40c but how far will it fall? Sellers are aggressive and my guess is 35c but perhaps 30c. On what is known about the fundamentals I reckon there is a big rally in the company coming at some point, perhaps 30c back to 40c or 35c back to 45c.
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Currently unlisted public company
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Mkt cap $22.88M
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VXL (ASX) Chart
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