"A question for you, i know you use charts alot, agree there is upside here and this is very undervalued but im guessing you think it will not drop to 30 before rising to a £1 otherwise you would not have bought. Many are of this opinion, my question is when the sp was over 50p before it crashed to 30p were the charts/bollingerbands pointing to a rise to circa £1? why do you think the sp will not drift back to 30p before rising to a £1? cheers mate"
When it was over 50p it didn't actually crash to 30p. It was a fairly sharp pullback on profit taking. There are not many shares in free float so the profit taking had a very marked effect on the LOGP sp. But the charts/BB's were definitely NOT pointing to a £1 sp when the sp was over 50p.
The sp could crash from here on bad news. The LOGP is currently in very tight BB's and a dramatic rise OR fall is likely on the next major news update. However I can't see bad news being issued. The fundamentals seem too good for bad news to be issued. We are not waiting for a wild cat drill result so I don't expect bad news.
The chart looks good. Since the middle of 2010 we have had 3 higher highs and 2 higher lows. I can see that continuing. Volume was good today. Though the sp didn't breakout of the BB's today.
been here for some time. pattern here to date has been 7/10 days of rises pending rns then drift back. the big difference now is there are several news items pending and i expect there will be at least 2 big ones this quarter and only negligible drift back until after Barryroe reserves update AND more news on the 3 other licences, which could come in 3 separate rns' . so could be 4 rns in next 2/3 months
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