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Boyobach, thanks for that and it doesn’t look pretty. The line is exactly where the share price is now but looking at that graph if the line was drawn from 2020 it looks more like it’s set to hit about 110p ?
European Nat Gas Prices Explode To Record Highs As Putin Turns The Screws
" This is why biting the hand that literally keeps the lights on during the winter is probably a bad idea. "
"...one reason why winter prices have been rising is that hedges need to be in place across Europe to secure scarce supply and immunize shippers from price spikes. With winter delivery still over three months away, that will likely come at an ever-growing premium. It also means that in the meantime, European nat gas prices could soar to even more nosebleed levels in coming weeks."
make of it all as you wish.....
https://www.zerohedge.com/markets/russia-50-less-supply-european-nat-gas-prices-hit-record-putin-turns-screws
Boyobach my apologies for using your thread but as you said b4 “Getting back to the actual topic...” so back to RDSB
I’m not a technical person but I try to keep my own record of prices movements to form an objective decision for myself. For example the following prices are the Closing prices of the day for simplicity.
For me before I can think of that momentum has changed to upwards, first I hope it closes above 1450.40 which is the high it made on 05/07/2021 after reaching this year’s high 1518 on 12/03/2021 and then retracing to the low 1283.60 on 28/05/2021.
And then if it closes above 1486 which is last year’s high made on 07/04/2020, after the first low 916.80 made on 18/03/2020 and before retracing to the lower low 866.40 on 28/10/2020, before first I can dream of seeing 1518 again and perhaps consider that the upward momentum might have resumed again to me and then I’ll worry high targets later.
Please note that this is my own price targets, pointers, guides or signposts of Price movement and not advice or predictions of what will be. DYOR
PS thank you for the useful contributions that you and others make to this forum, please keep them coming.
Ha! Why would I do that Steve?
O/T obviously - and out of curiosity:
https://invst.ly/vmb9t
It doesn't look pretty with that red limiting line - a breakout from that could potentially change things but I don't know the background or the supposed prospects for recovery. Actually, I don't 'do' retail ordinarily. ATB
Boyobach, Don’t suppose you could chart Card factory for me?
Whilst there is some debate about whether share-buybacks do much to enhance an SP, I have noticed in the past that they can add tangible support by hoovering up the cheaper shares of the day. This tends to raise the floor and we may be seeing that currently, although the gap down to 1387 remains a concern: https://invst.ly/vm2vs
As far as the gap is concerned, there may be valid technical arguments that classify it as a ‘continuation gap’ and set it against the historic gap down from 1600 last year. I’d personally feel more comfortable to see it mopped-up by a brief negative spike followed by a resumption of progress. Either way, there’s reason to hope that the floor might be shifting up to 1460 with the Q3 range extending back up to 1520.