RE: Share price30 Dec 2022 11:28
Merry Christmas Noel!
(I don't recall anyone asking for your analysis?)
Snoop: The share price has nothing to do with any inside information on whether this is a duster or not as the results of the drill will probably take a considerable time to analyse to see whether this is indeed a commercial prospect or not ( and they haven't finished the exploratory drill yet), and even if it is, as someone pointed out, it may not immediately result in a drill due to wider world economic equations.
Noel was correct that traditional chart analysis, given the time scale of the drill, would lead to a drop off as people move money around prior to the results coming through. There is also a general negative market outlook at the moment, whatever the stock, as people look to reduce risk. And this is, and has always been, a risk.
I'm still adding though as I believe it will hit 4 to 4.5 p minimum prior to a actual news but that's a good few weeks away.....