It hit resistance at 3.34p and dropped last week but held t-line
due to bearish divergence I would think we could have a small retrace before next leg.
keep an eye on Moving averages as support as well.
One of my favourite patters with perfect waves.
Bought in this stock 4 tranches on every 200ma touch.
Delayed news already priced in and plenty of sticky holders.
Massive project in Mozambique to supply a 300mw of power.
Government on board and awaiting final go ahead timetable.
Bought first time at 0.54p & sold at 1.3p
Re-bought today at 0.80p 1st tranche.
We could still touch the weekly 50ma at some point but for now 200ma daily seems stronger.
RSI landed right at support & why I waited for that range for weeks.
News to come very soon so this could do extremely well from this levels.
90p possible retrace where 20ma is, before next leg
108p next resistance
Bear in mind:
Cash and net debt
The Group carried a cash balance of GBP0.7m at the end of the reported
period as against an opening balance as at the 1 July 2018 of GBP1.9m.
Funds have been deployed in the continued...
$30m capex to $300m NPV Graphite mining play
Last placing at 1.1p & possibly a good price for entry around there.
Warrants at 2.2p within 3 years.
Please be aware that Paul Johnson is now on the ACP board.
-- Test-work programme aimed to progress the MOU to a binding agreement is planned to start before the end of Q1 2019
-- Discussions regarding the remaining...
It managed to close above t-line & 20ma so this week it could head back to resistance but watch for any weakness as it's not out of the woods yet.
We need to have a bullish divergence on RSI as well on next bill run as if not it could be weak & head back below.
9-10p is next resistance for a slice in case it doesn't break out. or for a break out trade wait for...
Placing was at 1.75p so bear in mind they are fully funded at the moment.
Very strong bullish divergence & strong support here.
I don't hold but see is as a possible trade from this levels.
if 1.5p is lost then best to leave stock as we might be heading to new lows.
Metals play including vanadium.
Keep an eye here for T-line break & close above
we had a bullish divergence happen recently and bounced from the support which was previous resistance back in 2015
1.7p-1.8p is next resistance level & a few resistance areas like 200ma so be wise & slice accordingly - Don't hold forever.
Please expose wisely though and have a stop loss in place as if support is not held it will go to no man's land.
But I see here as a good risk / reward as it could bounce to 2p as first resistance. 2.32p next.
We have reached top up / entry area here again right where previous resistance was.
50ma daily (at 7p now) is creeping in which might give extra support as well
if lost then we could head to 6.8p as another potential
5p is support area and great for entry opp if it ever comes again (bear in mind spread so at times it's best to buy at 5.10p / 5.15p)
if 5p is lost then bail as it could get back to 2p.
I would look for 7.5p-8p target for a profit slice once we close above 6.42p
A risky trade but if RSI breaks we could lead back to resistance at 11.66p
No 100% confirmation on a bounce coming as of yet but bullish divergence looks good for now.
Bear in mind bullish divergence can happen a few times on the way down.
Weekly t-line cross with 20ma upwards could well start to become bullish so keep an eye here