Member Info for MyrtleMan

Very nice close at a new high for the day and the highest close since June 10th, just before it started its slide. Solid green candle on the daily, accelerating away from the 5p breakout area after a spinning top candle on Friday. A gap higher on the open tomorrow would be very nice, could see 6p fall, and we could well see 7p in short order. The 50 week MA could also be a blocker at 6.10p, but if we can open strong, we could well see a squeeze through a lot of these levels..

Looking good for now. We closed Friday above the 150-day SMA and the crucial 5.50p support/resistance line. It then opened higher again today and has found a strong bid taking it above the 90-day MA at 5.64p. We are hitting up against some short-term resistance lines formed by the rising channel it has been in since mid July, the top of which currently is around 5.78p, the high of the day.. The hourly chart is showing a nice rising wedge forming, which, if you go by the expected move from a breakout, it could take it quickly to around 6.24p.

There's more trend-line resistances around 5.90-5.94p and again at 6p - 6.20p, but this slow grind higher is good, keeping RSIs and Stochastics etc healthy, but not overbought. If we can close around the highs, around 5.78p, we could well gap higher again tomorrow and lift off from the channel through the 6p area. Volume is staying solid too, should be another day above the 3m average volume. It might just take one announcement of govt support or the like to see this thing take off again, it feels like something like that is brewing given the solid support in the last week or so.

5.63p bid, 5.79p trading... It's gone right through some of the resistance I highlighted yesterday, that was easy.. could we see 6p being taken on today? It's possible.. momentum is building.

750,000 shares lifted on the offer - a big seller being taken on by big buyer.. I agree, it does look ready to pop, the bid has been very strong all day and is creeping higher, but there is a lot of technical resistance just ahead. 5.43p first obstacle (150-day MA), then 5.50p (old long-term support resistance line going back a few years), then the 90-week MA at 5.60p (has been pinning it down since July) and then 6-6.10p is the big one, a confluence of the top of the channel it is currently trading in since July, an old trendline going back to Nov 2019 lows and also an old support/resistance line. It sort of feels a bit deja-vu-ish here with the technicals starting to line up and we could see a similar sort of 'burst' higher (thanks for the suggestion Expatwat)as we've seen a few times in the past from around these levels.. If we can just take out 6p, it really could fly.. 6.80p and 8p the next big targets, with 10p the bigger target.

What I mean by downward pressure is that there are still heavy sellers out there - even with all this demand on the back of good news, someone is dumping a lot of shares to keep the sp down. Either a big holder is trying to lighten up/get rid of their holding, or short sellers are happy to keep selling this at any sort of price above 5p. But as we saw in the past, if enough buying pressure persists, this thing can pop 50-100% in no time at all once the sellers have been cleared out of the way.

Haven't posted here for a while, been sitting on the sidelines watching, still sitting on a considerable number of shares which I built back up below 5p after taking a chunk out at the highs last year to buy a house.

Seems to me the big slide down towards 4p in July might have been caused by Amati dumping a portion of their holdings as there was an RNS in August that said they had reduced their holding. The SP has been slowly recovering ever since on a slew of positive news updates, policy changes and environmental pledges around the world and some positive commercial updates from VLS themselves.

But.. there is heavy downward pressure still. This should be much higher than it is given the positive last few months of updates, possibly even in double digits. But every time it gets above 5p, it gets beaten back down. Big buys coming in on Friday, Monday, Tuesday (150k, 250k, 500k) all easily absorbed with the price barely rising. It looks to me like some institutions out there know there is a fund-raise coming in at 5p or below and word has spread - so there are plenty takers out there who are willing to short the sht out of this, as they know they can cover back at 5p or below in the future.

The technicals are all starting to look positive, with stochastics, RSI, MACD etc all looking positive and the shorter-term MAs now offering support from below. There is the 90-day MA at 5.43p which it is struggling to get through this week, but if it can get through that and the next resistance at 5.65p or so (longer-term MAs) then it should head back to the key support/resistance line at 6p. Hopefully if it can push higher then we might see some of these short-sellers throw in the towel for now and be forced to chase it higher.

Who knows.. this stock is a real head-scratcher right now, it should be far higher than 5p given the potential it has.

This is a great opportunity to buy on the dip, as we will have a 'Golden Cross' tomorrow with the 50 day crossing through the 100 day MA.

We're now knocking on the door of 7.50p, hope some of you made the 10% or so on that move up..

If we can get above 7.50p, we could start on a move to the top of another trend channel that has been building from the start of Nov, the lower part which was support at the end of November and again on the 14th and 15th of December before it broke below it.. it is now trying to retake the channel, with 7.50p as the level needed to break above.

The upper line of the channel was resistance on the 10th Nov, at the end of Nov and more or less from 2nd December through to the 10th. That upper trend channel now sits around 8.60p - which should be our next big target if this can break above 7.50p and start moving...

Very nice close at 7.20p, on a high volume day of 5.7m shares traded. The dcks tried to fudge the tape in the sea of blue that was taking it above 7p, trading THREE shares at the bid straight after it trades at a new high of 7.03.. enjoy the 20p you made from that trade you moron.

22-Dec-20 16:18:56 6.66 3 Sell* 6.66 7.04 0.20 O
22-Dec-20 16:17:40 7.032 7,000 Buy* 6.66 7.04 492.27 O

Nicely back above 7p now on a big green candle day, well back above the 9 and 21-day moving averages and heading back to the top of the uptrend channel from the March lows. It's also just stopped at the trendline from the Nov 28th low that it bounced along on the way up to the highs and which held it briefly as support a week ago. If it can gap higher above this on the open tomorrow it could well push higher towards the next obstacles at 7.60-8p, with 7.80p the first big target, the recent high of the upmove.

That pullback of around 20% was a healthy retracement after a 70% move up in a month, it only ever retraced to the 50% fibo level of the move from 4.60 to 7.80 at 6.18p, which coincidentally was also around where the 100 and 105-day MA sat, offering it good support and a springboard for the next leg higher..

Well, there is a buyer, but it's the seller that is taking all his buys around 6.92p and keeps reloading with more shares to sell that is keeping this from taking off. Loads of buying pressure, lots of buys, but so far they haven't been able to take it above 7p. Cheers Sense, not on twitter in a share commentary capacity, will post on here whenever I can..

This seller at 6.92p is doing his best to keep this below 7p... I feel we could see another pop higher towards 7.50p-8p once he's done..

Over a million shares traded in the last half an hour. He went 6.84 bid (from 6.32 previous bid) when it was 6.92 offer and has taken everything they have sold him so far and keeps nibbling at the offer, printing 7p at one point. Let's hope it gets some momentum back and we can break back above the upper trend channel line around 7.50p. A reminder.. this time last year, from the 23rd Dec to the 7th Jan, this doubled in price from 1.50p to over 3p...

Or just made up.. terrible article anyway by the looks of what he posted

It closes exactly at 7.60p with a sea of buys all afternoon. Another nice green bullish candle, pulling away from the trendlines and resistance areas, this could really start to move now. I would hope we get a 'gap and go' tomorrow with it gapping higher on the open away from the 7.60p area and towards and over 8p. Technically it is still looking superb and has clear space above 8p to really stretch its legs. One bit of news is all it will take to see this thing rocket again I think, the pressure is building under it..

The old 'tree shake' is going on now, MMs have widened the spread, taken it back to around 7p bid to try to scare a few sells. Hold firm, this will be back up around 7.60p this afternoon and could very well close near the highs.

Well, it just looks like a continuation of what I predicted last week. The buyer is still there, he opened on the bid today above the channel, so we are now in the process of breaking out again.. 7.45p that I said we would get to by the end of last week was hit within an hour of the open this morning, and it's even traded above the 7.67p next target I put up. Bid is now up to 7.40p, with the 7.60p offer being nibbled at. If the bid goes above 7.50p it could get lively, this reminds me so much of June, where there was strong support in the days leading up to the govt announcement re. supporting VLS from Schapps. 'THEY' always know about these things before the rest of us, and like in June, and with a lot of stocks with buying pressure building, the move happens slowly at first, then all at once... If we breach 8p, this could shoot to 10-12p.. something is afoot..

There is a real big, strong buyer out there. The bid keeps coming up and up and up, creating a lovely uptrend.. Market Makers are doing their best to try to keep a lid on this, playing games - 7.36p trades, oh lets sell 14 shares at the bid at 7.14p. 7.36p trades, lets sell another 20 shares at the bid at 7.15p... keep making it look like there are sellers hitting the bid too.. But it's only a matter of time before the bid climbs above 7.30p and we could see this thing take off. We could see a lot of stop orders above the 7.50p level and more above the 8p level, would love to see this buyer gun for them..

Someone really wants this at the moment.. bid keeps climbing.. just went 7.20p bid for 300,000.. all taken though, but the seller might be done soon enough, offer keeps getting lifted too... tick, tick, tick...

Above 7.32p we should pop again from the small pennant formed during yesterday's trade. Plenty of demand there, but the buyer is being patient. Bid is creeping up though. If we do pop, it will hopefully go through the 7.45p and 7.67p resistance levels and shoot straight towards 7.92p-8p where the next obstacle could be.

Interesting to see too that my slamming of XPB's lies about Myles tweet has been deleted, looked like someone went running to mommy.

POP!
There goes the champagne cork and the 7p level taken out.. I love it when a plan comes together.... especially that quick.

It actually traded to a high of 7.20p, there clearly was a lot of appetite this afternoon, maybe spurred on by Myles tweeting that he has added again to his VLS position for a short-term momentum trade (maybe he read my analysis.. ;-)

I expect to see 7.45p, possibly even 7.67p at some stage tomorrow, if not by the end of the week.