What does DMY Capital Ltd do?
DMY Capital Ltd [ASX:DMY] used to be a winery owner, but recently they acquired the robotics building company Fastbrick Robotics. Their bricklaying robot is generating great interest around the world.
The robot can complete the brickwork of an average house in one or two days, something that takes humans four to six weeks of back-breaking labour. The robot can work day and night, and no human contact is required.
That’s interesting, but what is the chart telling you?
What does the chart look like?
I personally find it helpful to bring up a chart. Here’s the daily chart of DMY:
On June 15 the company went into a trading halt, and the big day up on June 24 is the first news of the acquisition. Note the month’s action just before the trading halt. It simply wasn’t traded before that. Somehow someone seems to have known.
Yesterday the share price spiked again and company had to answer a price and volume query from the ASX. The company is not aware of any information other than a recent news report to explain the recent trading.
What now for DMY shares?
This product is receiving great interest from around the world, but it is far from being commercialised. At this stage they are busily securing patents and promoting their fully functional prototype.
Will this technology become commercially successful?
Well the chart will tell you that in advance. If the chart should continue to break over previous tops, that would suggest that the road to commercialising this technology is proceeding satisfactorily.
Start to use the charts to inform your buy and sell decisions. Go here to find out more.
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