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Bullish.
Nice to see my call from early March is doing well. #PXEN https://x.com/SwazersC/status/1787869961219670235 https://www.tradingview.com/x/EVPpFOCM/
Here is what my A.I. thinks also,
### Chart Analysis for PXEN
#### Overview
The daily chart for PXEN displays a positive movement with key technical indicators and chart patterns. Here’s a detailed breakdown:
#### Technical Indicators
1. EMA (Exponential Moving Averages): The 5-day EMA (5.68) and 20-day EMA (5.33) are trending upwards, indicating short-term bullish momentum. The recent crossover of the 5-day EMA above the 20-day EMA supports a potential continuation of this trend.
2. SMA (Simple Moving Average): The 50-day SMA at 5.47 is also trending upwards, reinforcing the bullish sentiment.
3. Volume: There is a notable increase in trading volume in the latest sessions, particularly with a bullish candle, which often signifies strong buying interest.
#### Chart Patterns
1. Ascending Channel: PXEN's price is forming an ascending channel, characterized by higher highs and higher lows. The stock has recently bounced off the lower boundary of this channel, suggesting a continuation of the uptrend.
2. Breakout: The stock has broken above the recent resistance around 5.80, potentially turning it into a support level. This breakout is further validated by increased volume and bullish candlesticks.
#### Trading Strategy
Confidence Level: High 🟢
Entry Point: The optimal entry would be slightly above the recent breakout level, around 6.15 GBP, ensuring the breakout is sustained.
Exit Point:
- Initial Target: 7.50 GBP, near the top of the current channel.
- Secondary Target: If the upward momentum continues, consider extending the target to around 9.00 GBP.
Stop Loss: Place a stop loss slightly below the recent breakout at around 5.80 GBP to minimize potential losses if the breakout fails.
#### Risk Management Tips
- Position Sizing: Manage risk by allocating only a portion of your portfolio to this trade.
- Monitoring: Keep an eye on the behavior around key EMA levels and channel boundaries for signs of reversal.
#### Conclusion
The technical setup for PXEN is bullish with potential for upward movement within the ascending channel. A strategy focusing on taking advantage of this trend with proper risk management could yield favorable results. Keep monitoring the key levels and adjust your positions based on price action and volume indicators
With monthly cash 💰 landing.
Crudely SP should increase 5% per month minimum or circa 1m mcap
Derisked.
Nice to see some decent movement and vol in here! Wonder what caused it - been expecting the usual PXEN (PVE) update Quarter end +1 month since October :) All progressing to plan. £620k more in the bank.
#PXEN - research 🗒
✅ 2 producing assets now from onshore indigenous European gas assets
✅ Balance sheet strengthening month on month - circa £2.5m in bank
✅ Use cashflow to self-finance future drills on both Selva + El Romeral, no raises needed for this activity
✅ No Debt / No Warrants = No Dilution
🔹Italian Selva asset; generating circa €3m* Profit to the bottom line net of Vat, Royalties & Taxes from just 1 well
🔸PXEN own share of entire gas ⛽️ field - the next two targets contain a gross estimate of 10X the initial producing well- drill programme to be planned for next well(s).
🔹Spanish El Romeral asset in production: circa €1m profit per annum to PXEN
🔸11 more wells once permit granted. 3 wells to be drilled immediately.
🔹Only requires 2 wells at 25,000 scm/d to increase 33% to 100% production @powerstation (potential to increase to €3m Rev per annum)
🔸Spanish Tesorillo asset, once license renewed in ‘23, option to increase 15% to 49.9% ownership for €1.725m
🔹Other expansion plans around Spanish El Romeral asset to grow PXEN eg. Solar / blue hydrogen. Solar project to increase output by up to 60%.
🔸All fully funded from cash flow of El Romeral and Selva - no short / medium term raises!
🔹Broker note 20p - based on 1 Selva field & El Romeral @30% production. Rest not priced in.
*Based on TTF at 30
Future growth options:
1) Further organic development of assets
2) Further acquisitions
2) Prospex becoming a ripe takeover target
I have been developing my A.I with my business partner & we are getting some pretty awesome results, using my own unique T.A. system. This is what my A.I said about #PXEN bearing in mind it uses a huge amount of data, including news & multiple RNSs plus the technicals. It is not biased in any way.
### Chart Analysis of Prospex Energy PLC (Ticker: PXEN, 1D Time Frame)
Confidence Level: Moderate
#### 📈 Technical Indicators & Price Action:
1. Exponential Moving Averages (EMAs):
- Bullish Crossover: The 9-day EMA has crossed above the 21-day EMA, signaling potential bullish momentum.
- Price vs. EMAs: Current price is above the 9-day and 21-day EMAs but remains below the 50-day EMA. A break above the 50-day EMA at 5.30 GBP could further confirm bullish momentum.
2. Volume Analysis:
- Increased Volume on Uptick: The recent price surge is supported by a noticeable increase in volume, suggesting strong buying interest.
3. Support and Resistance Levels:
- Immediate Resistance: The next major resistance is around 6.52 GBP, marked by previous highs and the psychological resistance level.
- Support: Current support levels are at 5.30 GBP, coinciding with the 50-day EMA.
4. Trendlines:
- Downward Trendline Break: The price has recently broken out of a long-term downward trendline, potentially indicating a trend reversal.
5. Price Targets:
- Upper Bound: If the bullish momentum continues, a test of the 6.52 GBP resistance level is likely.
- Expansion Potential: A breakout above 6.52 GBP could open a path towards 7.50 GBP, following the trendline projection.
#### 📊 Trading Strategy:
- Short-term Strategy:
- Entry Point: Consider a buy entry if the price retests and holds above the 50-day EMA (5.30 GBP) to confirm support.
- Exit Point: Initial targets could be set near the 6.52 GBP resistance. Extend targets to 7.50 GBP if the price breaks past 6.52 GBP with sustained volume.
- Risk Management:
- Stop Loss: Place a stop loss just below the recent swing low of around 5.20 GBP to protect against a reversal of the breakout.
- Position Sizing: Ensure that the position size is moderated to account for volatility, with risk per trade capped at around 2% of the trading portfolio.
#### Conclusion:
The technical outlook for Prospex Energy PLC is cautiously bullish, with the recent breakout indicating potential for upward movement. The strategy should focus on validating support levels and watching for continued volume support. Keep an eye on the 50-day EMA as a pivotal point for confirming bullish trends. Adjust the trading plan dynamically based on price action at key resistance levels.
📈 Bullish Sentiment: Monitor for sustained price action above key EMAs and the breakout point to maximize potential gains and manage risks effectively.
I stand by my #PXEN chart I dropped here in March. If the SP gets over the 200 then it's gonna test 7p, IMO https://x.com/SwazersC/status/1786323470285955147 https://www.tradingview.com/x/XIOobtvE/
So £200k/month net to us?
Ah. Now I understand why you're so bitter. It's all about timing chap. Better luck next time!
Please lets not hear from the 'eternal optimist' brigade.
Like the unemployed going fishing when the sun shines then when it rains back to bed.
'Smart money' isn't that both a Prospex and a punters cliche ?
Still PXEN is a bag of nails owing many of us thousands for starters,
8 years on since the Polish duster and still cannot escape.
Some more goods buys arriving, some smart money arriving gla
Keeps MR in wages anyway!
RNS will probably will come out late today. We know what is in it so there will be no dramatic price movement. Last quarter was the standard boring money bank of around £250,000 per month.
Suits me.
No RNS today then. Given the PVE update I was expecting one.
Good informative post, certainly undervalued imo as well
- £2.6m from 1 selva Well + £750k Romeral = £3.1m x 5 = £15.5m mcap based on current rev from online assets
- £2.5m cash in bank
- £15.5m mcap + £2.5m = £18m mcap
- Current mcap £18m / 5.5p
Above excludes:
- Costs: £1.1m incl. mgt costs + listing fees
- Infrastructure value: Spain and Italy infrastructure and connections
- Future asset value: additional Selva or Romeral permits
- Future current non-production value: Tesorillo
So 5.5p looks extremely cheap still - with a more realistic enterprise value of circa 15-20p / £54m+ mcap
No Debt / No Warrants = No Dilution
RNS tomorrow
Some decent buys coming, things about to turn I think gla
@ProspexEnergy Updated Corporate Presentation #PXEN The company announced that it had settled the third and final capital repayment from the Convertible Loan Notes issued in September 2022 and is now completely debt-free. https://twitter.com/Share_Talk/status/1784969507213135938
Certainly an increase on volume all of a sudden.Smacks of a leak
Topped up twice this morning myself
Want to put more in here , missed the little jump , but will have to wait for profits from another
No warrants , cash in bank , 8 new targets, 20p broker note, small m/cap. This is a screaming buy gla
Would expect to see a few more position around now though? Not much going on... yet.