He may have sold his entire holding, but.... “In addition, Mr Madden is interested in, in aggregate, 224,879,591 options and warrants to subscribe for Shares in the Company.“
Another reason for the pullback in share price last week, along with warrants and overbought technicals - Align Research has formally issued a “take profit” notification: http://www.alignresearch.co.uk/cpt-company/eqtec/. No doubt their followers will have taken heed. I for one will be monitoring the technicals closely in the coming days / weeks - and adding if the price drifts down towards the 20 day moving average, currently in an uptrend and sat at around 1.8p....
“When a defendant agrees to waive service, he or she agrees to waive the formalities of service. To obtain a waiver, the plaintiff is required to send two copies of the summons and complaint and a request to waive formal service of the summons and complaint. A defendant who agrees to waive service must return the waiver agreement to the plaintiff. If the defendant fails to comply with a request to waive service or refuses to waive service without good cause, the defendant will be required to pay all of the plaintiff’s costs associated with completing service, which include the process server’s fee and reasonable attorneys’ fees associated with effecting the service. The defendant does receive a benefit for waiving service: he or she is given 60 days, rather than 20 days given under normal rules, to serve his or her answer. Therefore, the defendant would have extra time to prepare the response to the plaintiff’s complaint.“
This could potentially be very good for Chal. Big emphasis on "waste to energy" companies currently, with a lot of funding in Europe in particular going that way. Waste levels are projected to increase massively in the coming years due to increase in population and the "renewables" are projected to supply more than 50% of global energy by 2035. I'm also in another waste-to-energy company - EQT - and have enjoyed riding the wave so far.
As previously discussed, price has gradually moved down to fill the gap (405 - 495) created on Jan 31st's positive financing news. New descending wedge formed in the process (purple). Looking for this to break out one side or the other in the coming sessions, especially as results next week. MACD and RSI show bullish divergence. (Blue diagonal is long-term descending resistance. Red zones are remaining gaps; blue zones support / resistance.)
Nice rise into previously tested resistance at 500 mark. Still the upper gap fill required to ~523. Unfortunately, from a technical aspect, the rise gapped up this morning, creating a lower gap from yesterday's close at 405 to 455 which presumably will have to be filled at some point...
My musings on the technical side of things.... The previous "cup and handle" breakout was stopped at 490 resistance and retraced to 430s / 440s. I too was hoping that 430s/440s area would hold, but on the technical side there appears to be an early downside breakout of a descending triangle (hourly chart): https://pbs.twimg.com/media/EO9VBTIX4AEQcgP?format=jpg&name=medium If this is confirmed, to my mind suggests further retrace, perhaps back to support at 400s/390s? Any comments welcomed!
No worries - I'm no expert by any means but am invested here (short term at least) and interested in how the chart side of things plays out depending on whether funding comes through or not. RossBM - like Jeremy Corbyn on Brexit, I have no opinion on the matter!
RossBM - from a technical perspective, the daily chart shows a possible "triple bottom" pattern formation over the past 6 months or so. There's a higher gap to fill up to 523 then upwards to attempt to break the 6 monthly highs at 630s. Upward break through 630s would confirm a triple bottom pattern and would imply a technical target of 800s! Not advice, just observations.... I'm also long this stock so a bit of conformational bias, perhaps, also. ;)