Australian (ASX) Stock Market Forum

BP8 - BPH Global

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This just came up in my scan and I thought the price action was super interesting.

Big descending triangle with these four volume/price spikes followed by a period of down trending/sideways low volume price action. Note that each period of low volume price action is getting shorter in length after each addition price spike and the overall volatility of SCUs price action is reducing. One to watch, even just for interests sake.

SCU.JPG
 
StemCell United rising off its recent lows in the last few trading sessions. SCU has a history of share price spikes followed by retraces, so this may well be another.

No obvious catalyst for this week's price action. Volume is up but not significantly so. A wait and watch approach to SCU might be the best approach given its chequered share price history during 2018.

big.chart-SCU.gif
 
SCU catching the attention of the ASX after its share price rose rapidly from 1.8c to 4.1c in a couple of days. In response to an ASX Price Query, SCU management says it has no idea about the unusual trading in its securities and isn't even prepared to speculate about what might be the cause of such trading...

Things that make you go "hmmmmmm....."

SCU has been a fairly unexciting stock for the last few years with a limited trading range in that time. That's what makes the recent share price gains all the more perplexing. Could a potential suitor be taking a position?

At the moment it's all just speculation. However, given the scale of the recent share price movements I think we're likely to hear more from SCU in the coming weeks.
 
On June 15th, 2023, Stemcell United Limited (SCU) changed its name and ASX code to BPH Global Ltd (BP8).
 
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