Let's run through some indicators to flesh out a potential fractal whereby the share price enters a trading range around the current level before going on a moon mission (most likely triggered by Togo news and ongoing newsflow from Utah):
1. RSI - Sub-30 in March and settling at 40. Prior to this, the RSI has always bounced off 30. However, the last time it went...
Retrace from the massive pump, now consolidating, looks like it wants to continue going. Interesting top 100 project, it's DeFi with very little social media hype.
Looks like it could range here for up to 3 weeks before continuing to go up. Some interest in NKLA post-warrants could see this push on here as well. Triangle resolution seems to match up with the Plug Symposium on 24 September.
1. Compare the chart to the Wall Street Cheat Sheet and looks like we're in the Depression phase. Quiet on Twitter and bitter sentiment on LSE/ADVFN, nice contrarian signals and not a crowded trade.
2. POC at 1.4p. Sharp capitulation from January to Mid-March where RSI hit 18 and has recovered slightly.
3. Upcoming catalysts: OGA 32nd Offshore Licensing results...
Simple oversold play. Lower BB, oversold RSI, lovely capitulation candle and POC higher than current price. On the FA side, c. £5m disposal proceeds coming in and new management. No liabilities and some bagatelle gold licences.Worth riding up to cash levels (1.08p ish) and more if it captures the herd's attention. Near term placing seems unlikely (except for any...
As with the other ideas (ONC, ORM), we've got (i) price on the lower BB (weekly) with bands narrowing (usually suggests volatility incoming); (ii) RSI at 24 (oversold); and (iii) POC at 2p, all signalling oversold conditions and ripe for a bounce. FA: market cap 3.5m vs last reported cash at £7.8m, so not even valued at cash and nothing included for the business...
See my chart for Oncimmune. Nice little bagger and similar conditions here.
RSI just above 20. Historically, price has bounced when RSI has been between 12-20. Bought a tranche already and ready to buy more if it does slip further (possible depending on when/if results are released as that may let stale retail holders out).
Price hovering on the lower BB bands...
On a monthly view: RSI has hit 30 for the first time. Price has fallen below the lower Bollinger Band. Reversal potential if price holds as it would be the first green monthly candle since July 2019.
Steep drop from 91p to 37p from October 2019 on tiny volume. The Point of Control is 85p and likely a magnet when volume returns on positive newsflow.
