RE: It looks like the previous ceiling is a strong floor...14 Oct 2025 19:11
Well Jim, (there's a Star Trek joke in there somewhere) - I saw Wookie's post earlier (there's a Star Wars joke in there somewhere) but wasn't sure if I should comment, someone might misinterpret it as me trying to ramp (no) or short (still no, can't with HL and wouldn't risk it anyway) or trying to use my supreme powers of persuasion to convince (mature) adults to sell (heck, still no);
But since you ask, I would have said,
It is sitting at the bottom of the steep re-rate channel it created on the FEED RNS currently on a range of 82-89p as it is trying to cross the gap from the lower long-term trend it has been on since April which has it comfortably at £1 by New Year to the upper long-term trend that it triggered in May/June after the run of RNS and the Hydropulse launch and it was sitting happily in until SNAM exited, which breaches £1 at the end of this month.
There is strong resistance at the upper level around 94 p but a good RNS - sizable contract or Hydropulse contract would likely breach that and trigger a new re-rate breakout. Currently, it will either complete the cross to the upper trend or remain in the lower it is squarely in the middle of today. That has support in the mid to high 70s that I may have mentioned before, which it should bounce off before resuming the up-trend (might have bounced off today).
If there was a RNS that triggered the re-rate breakout, the, peak to trough of the W (double bottom) which is also a cup and handle, is 30p give or take a p - make of that what you will.
I would have said all that. But obviously, I didn't, as I would want my reading of the runes to manage the emotional reaction to a natural volatility drop (with 2 standard deviations of 30dma mean) to be misinterpreted.
Cheers Jim, Spock out.
DYOR etc etc