Although it has dropped back a little the MACD is still well above the zero line in positive territory, ice little kick up on the RSI over the last two days trading and best of all, the tight squeeze in the BBs which usually indicates a major change of direction. Although we are now at a resistance level of 0.41with support @ 0.38 all the indications are still that we are waiting on news and a significant increase in volume. Today we traded just 1.86 million shares, peanuts for a company with a large shareholding (which I am always reminded of). Sorry bricket, can't see anything pointing towards your target figure in the low 3s, other than you of course but I will wait for your analysis to the contrary.
It reassuring that the Charts are aligned with the RRL financial projections. I suspect that the lack of financial information in the presentation has encouraged investors to look at the accounts and the IER report to work out for themselves why the finances are not forth coming with the presentation.
I too would have expected details of net pay to have been released following logging. There is no point in drilling efficiently if you then delay getting it into production.
"However, the chart tells me that 0.32p will be breached sooner rather than later." Seeing as you have not posted a single chart or even an explanation as to which indicators are giving you these readings I don't think it is unreasonable to ask you to post just this one chart with a proper analysis of how you arrived at the projected sp that you do.
I will of course post a TA chart with my own technical analysis and then we can compare our findings. Simply saying that your chart is down with no technical explanation as to why is not really good enough in my opinion. They are called TA charts for a reason, post the rational behind the chart, if it is good I will say so.
I have just run a 7 day chart and the end result was totally unexpected. I had assumed we were entrenched close to the 0.39p mark pending the bod delivering on some of its ambitious targets as detailed in the latest presentation (the one without any financials to back it up). However, the chart tells me that 0.32p will be breached sooner rather than later. It is, of course, only my reading, but given the fact I have been very accurate during the course of the last 6 months I am inclined to accept my reading as inevitable. Please do your own research, but it is interesting that the presentation I referred to earlier had no positive influence on the share price at all. I also detect that the market is very nervous about the lack of news concerning the recently completed drill (the one that was completed 12 days early). History tells us that no news is bad news so far as this share is concerned.
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