Member Info for MyrtleMan

Thanks Spurious.. nothing new in there really though is there?! He could have written that article just by reading through some of the threads on here!

So the shtbags tried to close it at 7.72p trading 1 share just before the close, but the auction sees it pop back up to 8p. Will be interesting to see what happens tomorrow, as we closed right on that resistance I highlighted earlier at 8p. Do we gap higher again, and in doing so do we go to the next target at 8.50p? Does it open below 8p and continues to meet resistance there?

There were plenty of buyers and decent volume again today, the bid was ticking up all day up until the last half hour or so.. Today was the highest close in 6 weeks and a nice gap higher on the weekly chart to start the week and take us away from the post-placing consolidation, with lots of the technicals looking really bullish again. 9.45p should be a realistic target this week or next, the 38.2% Fibo of the fall, and if we get through that, the 50% at 10.82p will act like a magnet..

Ready for take-off....

We got our gap up above the 50 day MA, and it stopped at the resistance at 8p at the upper trend line. It is now forming a nice ascending triangle as there is a strong bid there today that is slowly creeping higher. The Apex should be around 1.30pm, we could see it burst higher and over 8p after that, if the bid stays strong.

So there were rumours, suggestions of some research company/investment firm suggesting VLS was a buy, but no proof or evidence that I have seen. Nothing on Twitter either, bar guessers like Sharetalk going on about a bear trap break below a trendline that doesn't make any sense at all to me. The facts are that almost 28m shares were traded all of a sudden and we broke sharply higher early on, with some profit-taking late on with a deliberate push to take it back below the 50-Day MA at 7.26p.
Something is clearly going on again, we know by now that us plebs are a day or two behind news - this thing starts moving before the big news comes out. Who knows what it is this time, maybe more of the F4C funding, more news about Jet Zero, news about Shell/BA, or maybe there's a takeover in the offing..
For now, we need a gap up again on Monday to take it above the 50 day MA, and we might see it surge higher again if the demand is still there that was there Friday. It may be that the persistent, re-loading seller that pushed it lower and lower to 6p for the last two weeks is now done, and the buyers who have been waiting to buy, saw the price run away a little on Friday and suddenly had to start chasing..
My views - the next targets are 7.90-8.0p, the trendline from the Nov/Jan/March/July levels, it was touched at 7.80p on Friday.. Then 8.5p (from the Nov/Mar/July trendline). After that, 9.44p (38.2% Fibo from drop from 16p to 5p) and the spot of support/resistance in June and July. Then 10.81p, the 50% retracement. Will be an interesting start to the week for sure..

There may have been someone trying to sell 1m in the auction, but the actual number of shares that uncrossed was....

3

and no after-hours lumps either this time.

If it is RA, we are in trouble, as he has MILLIONS to sell.. this will be staying where it is for a long time, unless a large II/Shell/BA comes in and takes it all off him

Someone really wants out today, continues to push it lower and lower and lowe.. the offer is almost down a fully penny from the 7.12p it was on the open this morning and he keeps knocking it lower and lower and lower. Buyers keep absorbing all the sells though, which is good to see.. XPB, brainfart re. BP, was thinking BA... but the fact BP are talking about such a huge divestment in to renewables will get Shell's attention and they hopefully will display their support for Immingham a bit more prominently.

Someone is actively hitting the bids in size.. 63,500 at 6.52, 200,000 at 6.50p, 88,500 at 6.50p. Good bid below at 6.40p (200K), but the MM sitting on the offer at 6.58p has been sitting with 60K for days, keep reloading whenever it is taken. I wonder does the story about Lansdown shutting some of its biggest funds have anything to do with this big seller? News came out about a month ago, but it could be possible, given Landsdown's investment in VLS that more of their funds had also invested smaller amounts and now they are having to liquidate? Just a thought as to why we have this relentless and persistent seller keeping it from going anywhere.

The 50 day MA sits at 6.83p, which held it back yesterday, we need to get back over that to carry on higher.. 6.97p is the next hurdle to try to overcome, it will take us back on to the uptrend from the May lows through the July recovery attempt and we could see it advance a bit faster once over that.. The trendline resistance held it twice yesterday, early on at 6.84p and later at 6.88p. After that, the next targets are 7.12p (Fibonacci level) and 7.76p (Fibo level and support/resistance in June and July)

The 50SMA on the hourly has acted as support the last few days (around 6.42p) and the RSI and Stochastics are starting to point upwards again. I thought we might get a little push higher today from the BP announcement about divesting into renewables, but I guess it's sort of old news, we need specifics on their investment in to VLS for it to help us..

Man, this guy sure has a lot of shares to sell.. they take hundreds of thousands off him to lift it through the 6.20p level and there he is sitting at 6.30p with 400,000 more.

Hopefully that's cleared that seller and we can recover a little lost ground.

Tightest I've seen it in a long time.. after being 6.54 - 7.48p this morning, it is now 6.712 - 6.76p. Seller still camped up above, buyers are sat below but are patient.. they know sales will come to them as people start to get a bit worried..

Another 2 X 200K taken, reloads with another 200K. Demand is there, this guy is killing the chance of a rise.

The 80,000 iceberg seller on Friday seems to be on the bid now, and there is an iceberg order at 7.00 for 200,000 shares that keeps reloading. One chunk of 200,000 has been taken, let's see how many more he has to sell. Would be nice if he'd just bugger off, as the bid is solid around 6.90p it seems.

There's someone sitting on the offer re-loading with an 83,000 iceberg order.. there is plenty buying going on, he keeps reloading.. hopefully he'll be done soon and we might get a late pop as the demand does seem to be there.

I'm not sure we'll see the 16.5p level hit in the short term, I'm thinking maybe 10-12p given the dilution.. but the goalposts have shifted once again with the seat at the JZC and the Govt backing - Johnson is going to flog this to death as an attempt to deflect from all his other failings and the disaster that his premiership is.

We might not see the savage spike of before when Shapps made his announcement, but I think we can definitely start to creep upward from here. The placing is out of the way, we didn't get the 'AVALANCHE OF SELLS' that some idiots on here were shouting about, and as it was 5X over-subscribed, the demand is still there for shares in this company.

Let's see if those who said they would buy more when they get their money back are true to their word and we see a solid few days of support.. and that goes for large institutions as well as retail players I guess. And who knows, seeing as the SP is driven by news at the moment, an announcement from the Govt/BA/Shell could well see it pop higher. If we do start to take off, they might just try to gun for the highs again.

Following up on the Fibo point earlier, that 7.85p Fibo is still in play, and if we get through that, the next levels are at 8.53p and 9.49p (which was also support/resistance on the 16th, 17th, 22nd and 25th June and the 2nd and 3rd July).

Now that we are through the 20-day MA, the upper Bollinger Band is a valid target too at 8.88p and if we get through the 9.49p resistance, then 10.71p should be the next big target. The last time we closed above 6.70p it hit 10p the next day and 16.50p the day after.. a nice strong rally tomorrow, followed by some good press over the weekend and we could well be in double digits again early next week.
There should also be very strong support now around the 6.35p area below.

The fibo target I put up a few days ago was more or less hit this morning..

"If we can break through this seller at 6.80p we could pop to 7.18p pretty quick and then 7.85p (Fibo targets)"

Hopefully we'll see a late run at the highs and that Fibo level again in to the close, buyers appear to be stepping in again. All the technicals are looking really good, RSI, Stochastic, MACD, Williams %R etc are all starting to point north and are looking quite bullish. We're also now above the 9 and 20 day MAs and there could well be the next round of FOMO buying start to kick in tomorrow with those that waited to see if they could buy sub 6p.. Plus we have those getting their cash back tomorrow/Monday from the unallocated placing shares who might want to get in on the action before we head back to double digits..

Wild speculation of course, but seeing as there were two of them, for the same amount, could they have been BA and Shell both making a commitment to the project via a share purchase? Maybe there was some reason they were not allowed partake in the placing, so showed their commitment the day before the JZC meeting.. we might see an RNS about it soon. Just guessing..

At the table with the big boys RZ! Feels like a cork about to pop in the share price.. we're currently trading inside a narrow channel that can be drawn from the March lows, through to the 5p spike lows of last week, with the upper channel being drawn off the March and May highs and just before it broke out on the 15th June.. It was also support on the first major pull-back to 6p, and currently sits at 6.68p.. If we can push through that, we could gap higher again.