Member Info for Kingalf

Turned out that Hammer pattern from the 18/11/20 was infact a turning point. You can never be to sure , sometimes the market makers manipulate the market to create a fake one to suck people in.
Its pretty much closed at the 200 day moving Average resistance, really needs to break this and the 50 day to confirm the next leg up.
200-Day Moving Average 9.82
50-Day Moving Average 10.80

SuperSonicBoom - My strategy is to sell 2 thirds of my position at around 14p, the remaining third will then not have cost me anything. Obviously will kick myself if they rocket but on the positive side it will be a risk free trade.

SuperSonicBoom , let's hope so.

The recent price movements is very similar to the period around 15/7/20, obviously things don't repeat themselves exactly but if we mirror that price action to now, it should be a quite day tomorrow but a good solid increase on Friday to around 11.23p IMHO.

mrshoubs - The interim results are due around mid December, should get a progress report then.

200-Day Moving Average 9.75
50-Day Moving Average 10.98
20-Day Moving Average 9.08
10-Day Moving Average 8.02

In my opinion we really need to break the 200 day moving average around 9.75p for this to reverse the downtrend of the last month.

I take that back, bid 8.5p

Any decent bid orders behind this or is it the Market makers trying to suck in some unsuspecting punters.

As the old expression goes, a picture paints a thousand words or in in MM case a thousand plus posts.
If only you had found this YouTube video, how many hours would you have saved yourself

Bhoona_Patel that was a very informative.

I think its a market maker trying to fill a fill or kill order, sell the whole lot or none at all type of order.

If anyone is interested

200-Day Moving Average 9.73
50-Day Moving Average 11.07
20-Day Moving Average 9.27
10-Day Moving Average 8.08

Upper Bollinger Band 11.91
Lower Bollinger Band 6.63

Harami Cross, hammer and the support line going back to June 2016 all do look bullish. Does tie in quite nicely with the company results in a few weeks, we all know they will be showing a loss but its the CEO statement that will make the difference. Expecting it to be very optimistic, and we will have had, or have an update on the trial. Confirmation of a healthy cash position would also be welcome but we'll wait and see on that one as per my previous posts. If you are looking for an entry point, it does look positive at this stage but it could so easily turn negative so I personally won't be adding anymore to my position.

I was asking the same question a few weeks ago.
Vullrich posted the following on the other site, not sure if he/she linked to the company in anyway. Will now in a few weeks if their info is right or wrong with the release of the company accounts

Dear KingAlf-red

Your calculations re cash burn is completely wrong based on historical cash burn where plenty has changed since.

Here is what you should calculate

Cash at 30/9/2019 = 5.1m
Cash at 31/3/2020 = 4.0m (from July 2020 presentation)

Cash burn for 6 month PRIOR TO COVID is around 183k/month

First, assuming cash burn stays at 183k/month, that should cover them for 22 month from March, comfortably funding them throughout the end of 2021, which similar to what is stated in the presentation (page 3) that company is funded to Q2/3 2021.

Secondly, since March a lot has changed regarding working patterns etc, also VAT and tax deferrals, which should reduce the cash burn since March and well into Q1/2 of tlext year.

Thirdly, the company already signed a deal and they are due to payments in the tune of $10.5 millions with $250k already received, that would bloster the balance sheet and offset big chunk of the cash burn.

Fourthly, the company already has a fully funded ongoing phase 2+3 covid trial, and the output of that trial could massively change the company future, so I can't see why the company (with current funds in place) would rush to do a placing now at current level where the last £5 million placed were at 15p (almost double the current level!)

Lastly, with regards to speculation about what Richard is doing with his holdings, for whatever reason he is reducing for, you probably want to go through his recent TR1's across all his holding in the various companies has stakes in to better understand what he is doing, and you probably won't as you are not his advisor!

Stay safe King!

I may be premature but I'm going to call it. Seems a Hammer is forming on the chart (candles stick) today, close around 8.1 will be a very positive sign and could well mark the low. Back up from here.

Hopefully can build on a move back up to the 12-14p range, we haven’t had a Friday rally for a while, hopefully this week.

At least the share price has stopped going down, definitely a timely intervention from the new CEO the other day.
The thing with these type of share, once the momentum starts going, up or down its hard to stop it. Could quite easily have hit 6p if he hadn't said anything.

A fraction lower 7.89p

Reported for stating what is in the accounts.
Good luck with that one

Operating expenses excluding share based compensation
were constant at £3.0m
Do your sums mate

Losses
The total loss for the year was £2.7m (31 March 2019: £2.6m)
including a charge for share-based compensation of £0.2m (2019:
£0.1m). Operating expenses excluding share based compensation
were constant at £3.0m (2019: £3.0m) reflecting some reduction
in payroll costs offset by increased professional fees and business
development costs.
Share based compensation
Accounting standards require a charge to be made against the grant