TribalHound

LSE:VLS could be just about done retracing here

Long
LSE:VLS   VELOCYS PLC ORD 1P
Following on from my published Jan 2020 idea (also VLS) and taking profits 6 months later at 12p (almost 6x gains) I'd say it looks like VLS could be just about done retracing here.....
..... time to re-enter and start scaling back in from 5p downwards.

My 'gut' says we could dip as low as 3.75p (pointed out on the chart) by the end July - maybe with a spike past that before continuing any significant upwards movement September onwards.

8.5p looks like a solid resistance line to TP, but we need to break above the midline (for those who'd rather wait for reversal confirmation) to cancel the down trend - After 8.5p going to free roll - moving stops up as we go - this could be an epic journey - much the same as 1.2 to 16 was in Q4 '19 to Q2 20 - even with the global pandemic crash.

So for now - I've bought back the shares I sold at 12p and will be adding both DCA and ladder buying in increasing sizes to 3p

For those not in the know - this is BIG news !!

Sustainable aviation fuel ( SAF ) produced by the Company's proprietary technology using woody biomass residue feedstock has been used in a commercial flight by Japan Airlines ( JAL ).

Japan Airlines flight ( JAL #515) from Tokyo to Sapporo was completed on 17 June 2021.

(Don't forget to thumbs up if you agree / like my idea)
Comment: So it looks like 15th (just 9 days after posting this idea) we spiked down to 3.78 signaling the extended support from 2019 & 2020 bottoms (post black swan events for nuclear reactor leak and covid).
This should now represent a turning point once again - unless we get another black swan (so frequent now they will drop the black and soon just be called swans I'm sure).
Fully loaded now - targeting 8.5p to TP and let the rest free roll as I have no doubt long term this share is destined for great things once 'normality' resumes and the 'Eco-Flights' of the future are back to some kind of pre global shutdown normality.

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