Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Thank you for that explanation wyndrum!
GG, Just a quick bit of background in case you are not aware how this "works" (and if you do know, then forgive me for teaching you to suck eggs!)
Charts on their own have limited accuracy on the likely next move and as a result various algorithms of the SP are used to produce "indicators" to overlay these chart patterns to increase the accuracy of the likeliest next move in the actual SP. One such is the Relative Strength Indicator (RSI) and has a value between 0-100. It is generally accepted anything over 80 on the RSI suggests the SP is over bought (and therefore will fall as it perceived to be overvalued or has just got a bit ahead of itself) and anything below 20p suggests it is oversold, and therefore good value if looking to buy.)
As a SP rises so does the RSI (and vice versa).
So, yesterday the SP closed at 19.3 and RSI was 79.84
To answer your question directly, the SP has to fall to reduce the RSI. Staying at the same level won't help it unwind.
As an example of how this "works" on the 12/4 the SP was 14.3p and the RSI was way over bought at 88.61, since then there has been a bit of up and down but here we are at 19.3p and a lower RSI at 79.84. So a clear example of how the RSI via the SP had to unwind to allow further gains to take place.
So none of this is indicating any major fall or reversal or anything remotely dramatic, but the RSI is a very good indicator of what is likely to happen next, and that suggests a retrace to let the RSI unwind so as to allow further gains to be made.
When the trend is as strong as this I am not remotely looking for it to fall to 20 on the RSI, but simply for it come off the top and at the same time maybe detect a chart pattern that might indicate the retrace was/is over.
It could, as I said previously, carry on going up from here and the RSI just getting more and more into overbought territory, but at some stage it will have to fall back. And that's when I will look to top up.
But as always, each to his own.
Cluster it makes no sense to the bb of Scirroco either. Worth having a read. One poster desperately scraping the barrel by insinuating that 'us' He1 investors are spitting chips as the sale has disrupted our 'pumping' of this company.
But the majority are of the opinion wtaf are Scirroco doing? Like I say they seem a manic outfit and I would not be surprised that alot of Scirroco investors have had He1 put on their radar and jump ship. Tick tock.....
Makes no sense to me whatsoever wyndrum with an investor presentation coming up next week and a bank hols in-between! Then again I have a longer term outlook and strategy driven by news and events. You may be right from a technical charting position but I'll leave the trading well alone here until material news informs my next move. The only thing I'm likely to do is top-up if opportunity arises.
The close yesterday of 19.3p put the stock right on the cusp of being "overbought" from a TA /Chart perspective. This suggests the next move is more likely down than up. As in all shares, its never all one way and this stock cannot defy gravity forever. Having said that it could still carry on rising and just become even more overbought, however it fell back from the intraday high of 20.5p yesterday and has slipped a little this morning.
Its too early to see how this is playing out just now as the potential correction from here has not developed enough yet.
I am looking to top up further but I will wait a little while yet I think. (just my 2 cents)
I know it might sound perverse but I would rather top up at 22p say, with chart indications that rises were more likely than not, than top up now at 19.2p but expect to see lower prices rather than higher from here... If that makes sense?
I had put a nibble into SCIR some months back in haste (along with another 5 oil co's), with a view to tidy up and top up once due dil was done. having done some homework on the management team and directors, I sold all. I am now left with only 1 E&P co in my portfolio (KIST). Please DYOR. Sorry for this, it is HE1 BB so this will by my last post on it.
Christian. I agree. Tbh I think Scirroco are all over the place. They seem rather manic. At the end of the day it is their decision, but act in haste regret
..........
Each to their own N, imo they've sold way to soon and may regret it very soon. Maybe they need the money.
Sirroco being very short sighted there. Many of their shareholders displeased. Expect they might jump into HE1 independently.
Ha ha! Scirocco sells and see what happened to their share price so far..dropped 15%! Holders there who didn't take a day profit will suffer. Very short sighted as I thought they had a vision of investing in good stocks. Sure they made a profit and now have their holding for free, but when we shoot to 300p they will miss half of that growth. Sure there are risks, but for Christ sake, we have over 10% helium being expelled on the subsurface for God know how many millions of years!!
I see the reservoir underneath like a pressure cooker letting steam out.
IMHO and DYOR, of course.
ST
Great opportunity to top up, bought twice this morning. Average slightly higher now but at these prices what a gift !!!
Decent top up opportunity at these prices...investor presentation next week...so hopefully seismic RNS tue/wed...then drill week or so after that....looking good here!
It's both dilution and a sale of just over 4 million of their holding
Are they though, or is it not just the 100 million dilution that will make their holding percentage smaller?
Actually scirroco selling down
Sciroco, increasing stake? All the more the merrier