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Hi Tony, looking purely at the chart and discounting anything fundamental that is where the next level of likely resistance is set to be. Markets have long memories and you'll have some investors who are underwater from 2019 and will likely want to sell when it reaches 39p.
My personal opinion is that this goes higher, much higher when looking at fundamentals i.e., drill success, special dividends etc.. However that is the first target that I have set - others may read the chart differently and come up with alternative targets.
First target is 52 Week High of 31.95p, following target is 39p dating back to November 2019. Between those prices there's no meaningful resistance or previous support levels to break so all things being equal should see a sustained steady rise over the coming weeks/months. Having tested and achieving support on the 20ema on the daily and 50ema on the 4hr TF following a 50% rise in 4 weeks, it all bodes well for I3E.
Considering 2/3rd's of our production is unhedged it does make great reading and a great time to be invested. If you search #I3e on twitter you'll see some of the notorious rampers have started to pick up on it too which will no doubt generate more interest. Hopefully it doesn't cause a sharp spike and subsequent drop in SP as I personally would much prefer the slower steady rise generating support levels along the way. My personal target over the coming weeks is 38p dating back to November 2019. GLA.
A 15% retrace and back testing of key EMA's on daily, weekly and 4hr time frames was needed to allow support levels to be built along the way after a 50% rise over 4 weeks. Personally, I'm happy it came when it did (submerged with China Covid restrictions and the bloodbath we saw on Monday), makes it much easier to swallow than a 'random' drop as we've seen before which spook investors into selling. This is the share I have most belief in this year and will be holding long and strong throughout 2022. Excellent on the chart, excellent on the fundamentals - what's not to like!
Volume in the last two hours was over half of all shares traded today (5m+). Spread was kept tight with folk paying 11.4 toward the end of the session. Could just be a coincidence with POO up 6% today and also with an update expected around the middle of the month. Technically charts looking good on all timeframes from 30m to 1D. Whatever the reason I'm fine with it....as long as the sell on news brigade don't ruin it when news does drop. Hopefully see a good rise in POO now UK markets have closed, may see this close toward $110 a barrel given China COVID restrictions have eased and OPEC keeping supply tight - roll on an attack on 12+ tomorrow.
Currently at 0.42 which is the equivalent to 26p. Might see a gap up in the morning if it can maintain those levels.
Absolutely didn't see this price action playing out 4 weeks ago. What a difference a month makes...+30%. Well done to those who had more faith than I.
Let’s not forget that current gas prices don’t affect ANGS in the slightest as they aren’t producing - we only have a provisional date provided by an ever failing BOD, if this date is missed & hedging etc comes into play then what are the ramifications? Who knows because they don’t answer IQ’s.
Gracious in ‘victory’ and in defeat. Whilst the price isn’t nailed on I did think this would go lower so a round of applause to you BV if that’s what you’re after. As I said I don’t want to see anyone lose money so well done to you.
Mind you, the double digit gains made in GKP, BP, SQZ & KIST far outweighs any upset I’ve felt about ANGS not hitting 0.65. Sometimes the charts workout, sometimes they don’t - I’d rather they fail me on an entry point than on an exit point. All the best and hope you can break even and hope this dismal BOD return on at least one promise.
That’s the point of TA, it’s based on all things remaining equal I.e., no news it continues to drop. If there’s an RNS the EMA’s will be retested and MACD’s potentially cross than there is a further discussion to be had.
I’m sure no one is selling based on my comments, they would be stupid to as it’s almost confirmed they’d be at a loss anyway so who sells for a loss in a company to then buy in lower in a hope their loss is recovered on information from a stranger - not many savvy investors that’a for sure.
I don’t know why everyone on here gets offended when you try to offer insight into the way a stock is moving just because it’s not in the direction you’d like. Check my previous posts if you’d prefer but I was right on HUR and right on TRP, both went in opposing directions and were called correctly.
If you get a Monday RNS for a takeover and a concrete offer on the table instead of a pitiful share offer from Sound then I’ll hold my hands up and congratulate you on hopefully making some money. I’m not here to see people lose money as it removes liquidity from the market and there’s been plenty this year on Poly, ODX, ADV and EVR that have lost a fortune - it’s not nice to see happen to anyone.
BV yes I did manage to average down along the way. Appreciate some are stuck much higher and it’s been a painful ride for most such as Yanis who I genuinely hope it does work out for. My averaging down was all based on hope and not technicals. 1.1p if you’re interested.
Like I said, I have no interest in people losing money nor deramping, it’s just an insight as to what the charts are saying which again may help someone time their entry better than I did and many others along the way who have had countless targets missed and revised dates and funding issued.
It is indeed but they clearly have more faith in the current BOD than I, and from what I’ve read the majority on this BB.
My first dealing in ANGS was 2017 back at 15p - it would of been handy if I had someone with no agenda telling me when the price was likely to be in a buy zone instead of believing a list of long lies from previous and current directors and being in the red for the majority of time since.
Like I said, I’m not deramping because I know it will go higher but to do so it needs to pullback to the levels stated.
It would be good to acknowledge others are allowed opposing opinions to you BV, might get you somewhere worthwhile - like a lower entry point.
Same tea leaves and technical analysis that saw HUR go 60% higher in a week, boring making money when you know what you’re doing I guess.
Not talking this down nor am I deramping - this will go higher than current SP’s but after testing lows and demand zones. Timing entry and exit may make you a few quid so whilst my opinion might be boring because it doesn’t align with your opinion that’s based purely on fundamentals and trusting a board who have missed every deadline they ever set and used every placing to fund their lifestyle, you might find a price to average down to be in a better position once the ride starts.
If you’d prefer I can just cream myself over natural gas being as high as it is for a company who aren’t yet producing??
Correct the market is down today & it was down yesterday. It will compound technically weak stocks like ANGS until they reach a point of historic demand where buyers have stepped in previously - that happens to be 0.56-0.65. Rejecting key EMA's and POC's until a falling 200ema doesn't read well for any company. Key demand zones are what day traders/swing traders look for when buying a stock - hit that zone and you'll see a very nice bounce at least to POC which happens to be 0.82. Look at what happened to BMN this week - historic demand zone of 8.5-9p hit, goes up 50% at it's highest.
This will test 0.60 again before it moves higher. Rejected the 8ema today, fell below the point of control which spans back until Aug 2019 on Tuesday and has rejected it every day since with today being the most significant. MACD turned negative on the daily and on the weekly. Trading below the 200ema which is on a down trend. Very bearish on all fronts - align that with a BOD who can't finish their dinner and you get a very likely retest of a common supply area of 0.60. Hopefully it comes next week so there can be a good bounce and start attacking the 1p region with some bulls behind ASAP.
Following the same weekly trend until the end of 2022 would give you a high of 11.58p. HOWEVER, the likelihood of the chart trend remaining the same for another 46 with the news due is virtually impossible.
Totally agree TD, but it's useful for the short-medium term in absence of a complete and comprehensive model and financing plan by Colin. Just saying what I see with the technical rather than lumping the blame with MM's when you simply have people selling an 'over brought' stock on the charts with no foul play.
Held here well over a year and nice to be blue for longer than a week at a time. Should see a continued upward trend next week once the daily has cooled off and tagged the 20EMA which is sat at 6.05 currently.
Wouldn't say it's MM games more just the fact the XTR price is respecting the chart. Parallel channel on the chart will show you it rejected a breakout above 7.40 as it was always going to do if it continued within the trend. Chart also shows you that price needed to cool off as was way head of the 20EMA (which we are still above). RSI was over brought at 75 so again needed to cool off. Weekly chart shows healthy RSI, still needs to come back towards the 20EMA before the next leg up. Daily MACD was overdone also with EMA well above signal line. Volume hasn't been staggering and has been a nice steady rise with a high of 11m which is roughly 1.3% of the company traded on the highest day.
This will go again I have no doubt and I stay firmly holding my position, but it was expected after such a nice (predicted by the charts) rise. RNS just coincided with the price reaching the upper trend line. GLA.
Still trading comfortably within the uptrend to reach resistance by the end of the month. Daily lows are lower, MACD still bullish, holding above daily 10 EMA, 20EMA and clear of the 50EMA. All things well should see this break 5.3p by Feb 28th without any external factors playing their part. Volume profile also easies above 5.3p slightly so less selling into a rise likely. GLA.
Daily holding above 20EMA with healthy MACD, 20EMA set to cross 50EMA on the four hour time frame with MACD having just broken on the 2 hour time frame. Combined with rising BTC price hopefully should see this go on a run into the weekend like it used to as FOMO kicked in with markets closed Saturday & Sunday.
Apologies, hold my hands up there. Had indicator set to Stoch RSI NOT MACD. Too keen here clearly.
MACD Cross on the 1,2,3 & 4 hourly timeframes. Daily looks set to fall off the back of that. Daily had a nice pullback closer to the 20EMA yesterday and showed support this morning when close, weekly 20 & 50 set to cross. Should be a very nice second half of February on that basis.