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A little while ago I found a high correlation of PRE SP with the FTSE350 Mining Index - it remains pretty high at +90%
All boats rise with the tide they say - so the FTSE350 MI, which today is up 12% since the Oct 7 low - should also pull up PRE.
The effect of rising supply uncertainty and prices for REs is also helping to boost the SPs of most RE companies in the last 2 weeks - RBW by 9.7%, MKA by 7.6% and LYNAS by 13.9%.
But PRE is up by much more than any of these - a whopping 47.5% gain since Oct 7 is quite astonishing in the absence of any real news. The FTSE350 MI rise and general uptick of RE prices and commodities indices should have taken PRE SP to just 87p or so. So why the huge jump to 105p?
Could be Cop26 in the offing, could be a hatching takeover bid - but my bet is on a simpler cause - I think there's a significant PRE RNS or annoucement in the immediate offing and there's a leak somewhere.....
Of course we might all be wrong - what if it's nothing more than yet another cycle of pump and dump?
Hi Hogsnipe, I suspect that your underlying logic is sound but what I think you are missing is the shear size of the Longonjo/Coola Resource when compared to just about every other Rare Earth hopeful, that plus Saltend will put us on a Par with Lynas and Mountain Pass; where as RBW & MKA are nowhere near as advanced.
We also have a lot of recovering to do after the Dump/Short sell raiders have milked the MC, As I keep on pointing out the Fundamentals of PRE are sound, even at a 95% discount LJ is still worth at least US$6Billion.
Calmed down and now back into the 15 minute rising channel. Support lines are catching up over time. Awaiting USA open is my guess on what happens next.
Tony: looking at the early ADVFN USA PRE trading today it seems to be solid buying. Fingers crossed....
Resistance lines are 111.6p (Substantially weakened during the day) and at 114.1p that had a brief intraday breach. Further resistance exists at 118.2p and 128.9p.
Once a price has closed above these points , they become areas of support. The effort to get past longer standing resistance lines that go back months will take quite a lot of buying pressure. We shall soon see how it all plays out.
At least we closed that Gap that appeared on opening.
Would not want to give the Down-rampers/Techno's an excuse to call foul and drag us back down !
The rally is happening for a reason. Legal and General yesterday were describing on Bloomberg company bonds they want to buy and what they were looking for were companies like Pensana, HZM and others. Climate change protection stocks is what investors want to have in their portfolio.
ChinaSyndrome a gap between 108p and 109p was left in the charts higher up this morning.
I am not deaf DP. Aviva for that matter and hedge funds like Dolefin (Swiss) are also interested in companies helping deliver the COP26 agenda. The discussion with L and G was pre market open yesterday. I am also not blind to the completely inaccurate comments you put on the Synairgen board a couple of weeks ago so pot calling the kettle black on the fibbing front.
As soon as you came back on here just when the overbought signals wore off on the 5 hourly it helped Pensana rally back. Funny that and thanks. Incidentally it doesn't by magic generate more interest in RRE by having a go over on the Pensana board. I do not know why you do it, writing garbage on stock boards your not invested in. I guess DP you must be very lonely.
DP - You are a complete D'''H''D have being watching your posts on PRE for some now and are completely dumbfounded with your inability to comprehend the scale of opportunity that Pensana is presenting to the market , Would suggest that this opportunity is well out of your understanding or comprehension and you should go back to playing in your sand pit at RBW and do us all a favour by not having to put up with your complete ignorance because now quite frankly it is embarrassing .
Everyone knows DP is a plonker. What surprises me is why people still rise to the bait and give some oxygen to his rantings.
If this were pre-internet then a duel with him would go something like this.
One fine day in the middle of the night
Two dead men got up to fight
Back to back they faced each other
Drew their swords and shot eac other