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Despite positive results, the fundraise has depressed the shares.
A quadruple top in a ranging market is not bullish and the shares are going nowhere.
Huge rise, then fall on the day they announced EPA approval
for their sanitiser product.
But a few days after, the market seems mildly positive.
Moving averages on the daily chart are now in alignment and bullish
BUT: MACD on weekly chart shows bearish divergence
So you decide, which way will it go?
Although it still made a new high at 5.9 the price was sold down as the trading day progressed. Not as conclusive as first thought.
Good RNS which shows the company is likely to have better prospects in the US sanitisation market.
The share price also formed a triple bottom since August last year, and today's price easily broke that resistance. A breakout on substantive news is bullish and the shares are now in play.