Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
https://www.linkedin.com/company/powerhouse-energy-group-plc/posts/?feedView=all
Good day today. Closed above the 50 day moving average (MA) (150) and broke temporarily above the 100 day MA (170) before being pulled back. 100 day MA looking vulnerable putting 200 day MA in play. I wouldnt be surprised it that's touched by the turn of the month.
We will see. Last year it took 2 months following the results to hit its high and there were a few bumps and shakes along the way. Unfortunately the market doesnt always reward holders for having stock when positive news is released. Low free floating stock and a wide spread make this a tricky share to 'trade' without a high risk of being locked out when this does move.
Further to my comments today I see above 310 is a possible bull trap and below 280 is a possible bear trap. I am obviously bullish as a holder and so expect boot filling of orders around 280 before this takes off.
We will see Enzo88. I'm fully expecting them to take the price to 280 (or lower) to flush out the weak and fill their orders before pushing the breakout above 310 leaving the sellers scratching their heads as to what just happened.
This morning I researched the candlestick pattern that formed following the downtrend breakout on 5th Jan 2022 (I called this on the 5th of Jan see my comment). This recent pattern appears to be what Victor Sperandeo and Thomas N. Bulkowski named '1-2-3 Downtrend Reversal'. See books Victor Sperandeo - Trader Vic: Methods of a Wall Street Master and Trading Classic Chart Patterns by Thomas N. Bulkowski.
Additionally, taking a line from the top of the gap from 24th Oct 2018 through the top of the candlestick from March 31st 2021 to yesterday takes the descending trendline to 310. A close above 310 I believe is the market signal for the run back to 580. Price clearly broke 310 yesterday but was pulled back, would you believe it to a candlestick top of 310! Obviously, do your own research. If I have spotted this then others have too, so the market will be after weak holders.
I see it Crowfoot. Today's trading range and the closing price seems to signify a breakout deliberation. Looks like a close above 310 is the market confirmation indicator of a gap fill to 580 and 300p becomes the new support level.
Depends on how you view it. If a company reports continued positive growth and increasing profits during some of the most challenging conditions, it might highlight just how resilient and well run the company is. That cash from the sell off from other stocks has to go somewhere.
Have to admit I bought into YU a long while back based on its fundamentals. I'm only learning now some of the market trading strategies and signals. When sentiment or trading signals turn positive the buyers usually follow (FOMO), so no doubt alerts will begin flashing on those traders screens if they haven't already done so. YU is a well run and undervalued company and I'm happy to continue holding and topping up.