CMQ
Chemeq (CMQ) is a research driven veterinary pharmaceutical company engaged in the development, manufacturing and marketing of its product, CHEMEQ polymeric anti-microbial (CHEMEQ). CHEMEQ is used for the prevention and control of diseases caused in feedstock animals, like pigs and poultry by intestinal bacteria. Chemeq listed on the Australian Stock Exchange on 25 August, 1999. The Company believes that its product, CHEMEQ, is effective against multiple microorganisms, such as gram-positive and gram-negative bacteria, bacterial spores, mycobacteria, protozoa, viruses, yeasts and fungi.
Chemeq (CMQ) was the worst performing stock on the Australian sharemarket this week (Loser of the week for week 43 of 2006). The CMQ stock closed the week 33 percent lower after one of its major bondholders claimed an event of default. Chemeq had been thrown a financial lifeline 18 months ago from Stark Trading, a US investment fund. They demanded immediate payment of a $50 million debt by the Perth based animal drug company which only had $19 million at the end of last month.
The loser of the week is Chemeq Limited (CMQ) losing 18 per cent closing the week at 32 cents for no apparent reason. Notice that Chemeq is in a long term downtrend. It is interesting to note that Chemeq was a winner of the week a month ago. The winner of the week was GRD Limited (GRD) rising by 14 per cent to $2.48 on the basis of a positive investor presentation. The stock itself is volatile if you take the time to look at their chart price movement.
Chemeq (CMQ) is the winning stock of the week up 46% with absolutely no explanation. But having a look at the graph, Chemeq has been going down for a while already. As a share trader, no indicator could have predicted this break. Although a fast EMA set of EMA 5+21 could have caught the break point a day before the jump. Also, if you look at the candles, - they were all red, well mostly red, until the last three days that revealed some thick green candles.
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