I think that you're right in that there's no way to properly value a stock without revenue. However using the same logic, its hard to justify why technical analysis would be the right way to price it.
For example, yesterday RAP retraced, probably because some technical analysts thought it should - self fulfilling prophecy. However, everyone knew that the US conference was today/ tomorrow and so logically (not technically) the price should rise once these 'deep pocket' investors hear all about it. Some investors probably sold yesterday because the chart told them to, despite an almost guaranteed increase in price due to US exposure Thursday/ Friday/ Monday.
I feel like we'll have to agree to disagree on this, but focusing on technicals when real world catalysts are about to move the share price seems illogical to me. Lets just hope both technical and fundamentals work in everyones favour - upwards.
RAP Price at posting:
9.6¢ Sentiment: Buy Disclosure: Held
