platteey schreef op 16 juni 2021 06:11:
NCYT SP held back because....but the dam will burst
The NCYT share price is held back largely because it is a PI favourite which, in turn, causes it to become a trader’s stock. It has also become a news driven stock, and, because there is not an overabundance of news, it can be held in a range for long periods. The world and it’s husband knows it is undervalued and consequently hoard’s of PI’s/traders have bought in, the latter at least expecting to take a profit on any rise (10% most likely).
With all the negativity / uncertainty around the DHSC dispute it is easy/ier for MMs to keep the price in this low range ensuring traders can’t take that profit, so they get frustrated, cash up and therefore help the MM’s maintain their strategy.
But they can’t hold it forever, and when they have built up their supply of shares and, on any good news, they will let it rise fast (or won’t be able to hold it) and will profitably sell down their supply into the rising market (as seen after the last R&D update which went from c3.8 – 5.7 over a few sessions). When this happens, and the buying/selling frenzy takes a pause, they will drop the price again and attempt to stabilize at a lower range to rinse and repeat the process. We have seen it many times before with NCYT (stagnation in an “undervalued” range) and I suspect we will see it again.
Keep the faith, a rise from this stagnant range (3.30-3.55) is inevitable, and I strongly suspect that 3.30 is as low as it will go because of the buying pressure in the 40’s/30’s is too great (I am one of many topping-up and poised to add more on each dip) and when that news drops the dam will burst, and we know there WILL be news by end of June so not long to wait it out