Ascent (AST) - Long at around 1.10 (give or take 0.05p)

Fundamentally sound business but CEO's recent interview makes the short-term wins (like the IPPC permit ) sound less imminent so will probably see some people trade out before coming back later. Therefore expect another visit down to bottom of channel before bouncing and then potentially breaking top out of downward wedge .
Comment: Still largely within the trend, but not yet bounced, primarily probably due to further RNS updating that the government required additional info for the IPPC permit, which they say they should be submitting before the end of the first week of April. Reasonable chance people will start returning once they've submitted the documentation as it'll be anyone's guess then as to when that permit lands.
Trade closed manually: Although it broke out of the downward wedge the more recent news was less positive and they've started a strategic review, as it sounds like they don't think they can fund development themselves, which means they're at the mercy of whatever offers (if any) they get to sell up or JV. If they don't get any acceptable ones it could spell more dilution. So trade closed as the future is very uncertain.


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