$TTL potential breakout. Transcendence Technologies Limited which has a market cap of around $3.5m has recently demonstrated a clear change in attitude after an extended down trend with circa 5% of the shares on issue traded last week.
The shift appears o have been instigated by the appointment of Pat Burke as NED.
Mr Burke has extensive legal and corporate advisory experience having acted as a director for a
large number of ASX, NASDAQ and AIM listed companies over the last 10 years, with particular
legal expertise in corporate, commercial and securities law, in particular capital raisings, mergers
and acquisitions.
The volume traded (8.6m) over the last week was the highest since Feb and appears to have soaked out most loose stock from a tight register (53% in T20, 173.7m shares in total), the run up to 2.5c was on heavier volume with the fall back to 2.0 on very light trade.
Initial target on a break is the support/resistance level at 3.0c representing a 50% move from last close with stops set at all 1.5c being the all time low. trade set up has a RR of 2
