RE: Anyway Onwards3 Dec 2021 11:29
Come on!
People Buy Shares
People Sell Shares
Again,,Stock Take
Yesterdays selling was an almost mirror copy of 15/7/21 day but unlike that day we didnt get a late day RNS.
The late day RNS was Spreadex holder cutting a few in July 21.
We must consider £200K worth of selling last month, persistent since early September 2021. This stock has very few Major Shareholders. IF there is no placement or further bad news, it could simply be liquidators who expected 2p by Calendar Year end and decided to bank their losses/position and go.
We have also had about 3x other occasions where the sells have exceeded the buys by over 5-9m shares like yesterday. All of which didnt necessarily follow up with a placement or RNS.
Reminder to myself:
UK Natural Gas Prices are still incredibly high
FEB22 233.860 12/2/2021
4:54 PM -4.633 1510
Q1 22 228.110 12/2/2021
4:44 PM 0.000 195
MAR22 216.060 12/2/2021
4:44 PM -3.901 325
APR22 131.000
Angus Energy have been gifted almost a 'free carry' investment in Saltfleeby as the gas in the ground is worth 3-5x more than their original starting point.
So irrespective of the barrage something also needs considering:
Previous large selling side trade days culminated in a lot higher trade counts.
Yesterday was a mediocre trade count, so the sells clearly scared off retail investors who stepped in.
Also the 1.5m sells we have seen for 2-6 weeks are not uncommon, as we have seen 1.5m trades on the buy side too, so this could be the same entity.
Again, low trade count, nadir point hit with a 2m sell towards the end of the day- flushing out.
Yes there are equipment delays;but the markets have been royally hit: UJO EDR RBD and ANGS was performing somewhat better.
The 200DMA is around 0.85p so I expect to see this pinging back once there is stability and materiel progress.
I shall continue to hold and ride this AIM stock to First Gas and beyond. Unlike FTSE we have substantially high percentage movements up and down. So I shall wait for the full multibaggers levels once Angus prove the gas out.
GLA
Oversold IMO.