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We gapped up at 20.47 - this was the high of the shoulders on either side of the peak a couple of weeks ago. We have also just gone through the top of the 1st monthly channel into the 2nd. Now the bad news - I will need to do more work on the chart as I have run out of resistance points. :o)

I had a look at the daily chart with the RSI. Going back 6 weeks, that pattern is quite attractive, then 3 weeks again it repeated to the high and now seems primed to go again. Is that a bit of a headwind I feel?

I think it should do it, but I would be happier if we had stayed above 19.5p. We are just outside the short term trend that had a high of 19.4p so could possibly fall back into it for the few days it has left.

For the RSI, it is currently holding around the middle and not close to overbought. Depends really on the duration you are looking at. Hourly intervals and the RSI moved from almost oversold at the end of last week to about 57% at close today. It has generally been between 40-50 this week so yes, there is still plenty of headroom considering what has happened in the last 2 weeks.

The past week has seen a decrease in volume but there haven't been any overbought or oversold signals. The RSI also isn't showing any divergence with the SP, but if that continues we would eventually move into an overbought position if the SP increases enough. It would probably take a bit to do that though; and if that gets us free of the 19.5p ceiling, would be worth it.

I'm hopeful, but not convinced it is a breeze. Yet.

I just hope next week we can pull away from 19.5p.
It's been drawing us back like a magnet every time we get past it.

There is not really a price market in the conventional sense since the Federal Reserve stopped supplying Helium.
This is as close as I can get to a price comparison. https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-helium.pdf

Has the resistance finally broken? Come on. Puuuuush

The current channel closes in 3 trading days, so hopefully movement before then. Range at close tomorrow is 18.4p - 19.4p.
If it can break the resistance at 19.5p, it should be clear until 21p at the top of the monthly channel. There is a very weak resistance point at 20.89 that may get ignored. The floor of 17.5p is now beyond the bottom of the monthly channel so should not be revisited.

Hoping for 18.4p+ tomorrow and then a good start next week. https://invst.ly/uszdb

GLA DYOR

Looks like the market is trying to close the gap between 18.3 and 18.74 - maybe another half hour before we see some positive movement?

I doubt the 19.5p resistance will last long today. lol

This was the last obstacle and there is nothing that should be holding it back now. Right on time for the drilling rig to move to the site - a few weeks for the drill pad to be set up and that should be it.

The fall was arrested today, but it may not yet be a reversal. I am hoping for a worst case scenario of the SP bouncing between 18.5p-19.5p for the next couple of days before climbing again on Monday.

We do not have enough data to chart anything properly, but as a rough guide we will be doing okay if we close tomorrow above 18.2p and things will be looking good if we close at 19.5p or above.

Very short term loose projection in yellow https://invst.ly/usf5k

I can't see us dropping below the monthly channel, so I'm not concerned about any further decline. I started plotting that at the start of April, but the trend runs true back to mid March.

Corruption has always been part of government. I believe there should be a department for corruption. Not just for reporting it, but testing - like a mystery shopper. Someone tried to offer a bribe to the planning department and it doesn't get reported? Was that a test, is more training required, do they need to be replaced etc.

There is some resistance at the 19.5p mark which was previously a week floor.

The next resistance points are the top of the monthly channel around 20.4p and the bottom of the transposed weekly trend at 21.25p.

There is a weak floor at 18.78p then 17.5p. Right now we are in the middle of the monthly channel that began at the start of April.

Between 12:00 and 12:30 we should hopefully have an idea about the short term price movement. Unless we have as I type started a recovery and no longer following the downward trend. We have a floor at 16.78p with a weaker floor at 17.5p. https://invst.ly/us0tm

The buys and sells are just an indication based on the mid-price. Not on the actual transaction.

Interesting numbers there Akworld. I'm not sure if the price will rebound quite so soon, although I am sure it will rebound.

https://invst.ly/urilu
The chart shows various trend lines - solid blue is the old weekly trend that was followed until the latest highs.
This has been transposed below (blue dashes), to mirror the trend after the fall. This was followed for a few days, but fell below that this morning.

The initial downward trend is shown by the orange line. This was transposed against the previous low (left orange line). Where this line crossed the floor set at the end of April, it rebounded. The downward trend was also transposed against the peaks of the fall (dashed orange), which the SP is not currently getting past. This line crosses 17.5p at 12:00 tomorrow so I hope the fall is arrested before then before going back up. The trend line falls out of the monthly channel (purple range) at close of play tomorrow at 17p - 2 hours of trading later and it hits the floor of 16.78 that it rebounded off earlier.

I think we will be rising again by Friday, but 24p could be a bit of an ask.

I meant to post this earlier, but work got in the way again

The SP moved from the top of the weekly trend to the bottom by lunchtime. It has stayed bobbling along the bottom of the trend for the rest of the day. If it continues to do so tomorrow, the SP will increase by around 3%.

While it follows this trend, I am quite happy; although I am sure there will be movement along the way.

Historic prices have no bearing on future price movements, so do not take this as investment advice. Do not sleep while driving. Make sure to eat your Greens. Thank you.

GLA DYOR

My first foray out of AIM was the darling of the FTSE 250. Anyone remember Afren?

AIM or any other market - you can lose all your money if you are not careful. Don't rely on a market being regulated. Just look at the problems the banks get into.

AIM is more volatile and I agree, you should only risk what you can afford to lose. That said, most pension plans have the majority of their money invested in the market. We're all doomed. Doomed!

It looks to me like the market decided to put the SP back about 2 weeks as drilling has been put off for that long.

The SP rebounded off the floor of 16.78p. Having that as a base for the same weekly trend (blue) we had been having before the rise this week, we seem to be maintaining it. I know it's only a day, but strange how it all lined up. Today may have set the new floor at 18.78p (previous weak floor) which is also the top of the 1st channel (purple) that was the range for most of April.
https://invst.ly/uq31l

Please note this is not an indication that the price is stable / unstable / going to go up or down. I just like looking for trends and stuff.

I'd say it's a close call, but I think the first drill is the most significant and if it has the best chance of proving the resource, then that's what we need. A delay of 2 weeks is not much - most companies speak of delays in months and quarters.

I leave for 5 minutes and all hell breaks loose.

Not sure what the SP is doing back down here, but I guess that's profit taking, traders and MM's trying to load up for a repeat of the last 2 weeks. Hopefully nobody thinks they will be losing money here. The drilling has been put off for 2 weeks, but we'll be targeting a site that will provide us much more information and with a better chance of proving the resource.

We have just bounced off a resistance point of 16.78. I don't think we'll fall below that as this was set about 1.5 weeks ago. We're basically back in the middle of the first channel from my chart. I think we will be getting back up to where we were faster than last time although things may take a day or two to settle.

Glad to be back in, but I never thought this level would be seen again.