Argosy Minerals Limited (ASX: AGY)
Even after the exceptional PEA results of the Rincon Project of AGY, the share price of the company has gone down by 2.5% which is equivalent to 0.005 points by the end of the day. When the market opened this morning, the share was trading at A$0.215 which was the highest price of the share today. It went as low as A$0.195 which was the price of the share with the market capitalization of A$184.7 million.
The fall in the share price has not impacted the performance of the company, rather it got influenced by the earlier market uncertainty.
If we see the chart, the candlestick pattern of today and yesterday were same. However, today, the closing price of the share was below yesterday’s closing price. The trend of the candlestick pattern was such that there was three doji pattern in the last five days which highlights the uncertainty in the market.
The indicator MACD line has also cut the signal line from the top and moved in the downward direction representing the fall in the share price.
Cohiba Minerals Limited (ASX: CHK)
After the update regarding the company’s exploration this morning, the share price of the rocketed by 110% which is equivalent to 0.011 points. When the market opened this morning, the market price of the share is A$0.015. It went as high as A$0.026. The share price went as low as A$0.014 and by the end of the day, the share price is at A$0.021. This price is the 52 days high price with the market capitalization of A$5.58 million.
Also, as per the chart, there was a consistent uncertainty in the market. Its combination with today’s announcement led to a sudden hike in the share price. Its reflection was seen in the MACD line which has cut the signal line from the bottom and has taken a steep upward movement.
Biotron Limited (ASX: BIT)
After the company’s presentation of BIT225-009 HIV-1 Phase 2 data, the share price of BIT went down by 21.951%. The opening price of the share this morning was A$0.230 which is also the highest price for the day. It went as low as A$0.140 and closed there. As per the announcement, in the current antiretroviral drug, viral suppression was identified. As a result of the lack of fund with the company, there was a failure in the clinical trial of phase 2.
Moreover, the company is a consistent positive performer. If we see the balance sheet of the company, there is an increase in the accumulated loss which indicates that the shareholder’s equity has eroded which has also created a negative impact on the shareholders. It also indicates the poor operating profit of the company. Also, as per the chart, the MACD line has just crossed the signal line from the top.
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