Member Info for MyrtleMan

Don't fall for the MM's games again, hold firm. This will be back in the high 9s before the close.

One other thing that has come to my attention too is that we are probably going to see a 'Golden Cross' in the next day or two, a very bullish signal and one that can help keep the momentum going. The last time it did that in Jan 2020 was just before it spike almost 150% to the Feb highs.

For those unfamiliar, a Golden Cross is when the 50 day moving average crosses up through the 200 day moving average. It looks to me like it could well happen tomorrow after the last two-days rally. From Investopedia:

The golden cross is a technical chart pattern indicating the potential for a major rally.
The golden cross appears on a chart when a stock’s short-term moving average crosses above its long-term moving average.

What Does a Golden Cross Tell You?
There are three stages to a golden cross. The first stage requires that a downtrend eventually bottoms out as selling is depleted. In the second stage, the shorter moving average forms a crossover up through the larger moving average to trigger a breakout and confirmation of trend reversal. The last stage is the continuing uptrend for the follow through to higher prices. The moving averages act as support levels on pullbacks, until they crossover back down at which point a death cross may form. The death cross is the opposite of the golden cross as the shorter moving average forms a crossover down through the longer moving average.

The most commonly used moving averages are the 50-period and the 200-period moving average. The period represents a specific time increment. Generally, larger time periods tend to form stronger lasting breakouts. For example, the daily 50-day moving average crossover up through the 200-day moving average on an index like the S&P 500 is one of the most popular bullish market signals.

What a day.. What a week.. hope you all held when they tried to scare you in to selling yesterday afternoon... Didn't think this prediction would come off so fast..

"The target from the measured move from the triangle breakout should be around 7.25p and we could well get there today, or if not, I would think it's definitely possible by the end of the week. After that, 10-10.50p are the next targets.

I sold some at 10p on an order, didn't quite get to my next sell at 10.5p, but I think it's only a matter of time. Quite possible the late morning scare/sell-off will be done again after lunch and we'll resume the run back to the highs like we've seen over and over again in the last few weeks..

Mr T - I have seen you refer to the 15p broker target on a number of occasions here.. I wouldn't pay too much attention to that.. I think that broker is the companies broker, so they are obliged to post an optimistic price target. That target also is probably so out of date in light of the recent developments at the company, who knows what it actually should be. Yes, it might go to their 15p target, but it was a bit of a 'finger in the air' job I think.. A figure they had reviewed downwards numerous times before that.. your targets are 10p, 14p and 21p to start, technically speaking.

MMs playing their silly games.. do not give them your shares cheaply... be more Braveheart... Hold.... Hold.... Hold....

This will close around the highs, and hopefully gap over 7p tomorrow when the 52-week high traders come on board.

Top of the channel holding it for now at 6.76p.. needs to break through to shoot through 7p

Hold on to your hats..

Cheers Damay, just saying what I'm seeing.. pity I can't post charts here or I'd show what I'm seeing too.

Back in to the channel.. the morning highs now definitely back in play.. could see it over 6.76p pretty soon, then 8.70p and 10p..

Oh and also, it is trying to retake the uptrend channel that started this rally from the June 3.10p lows. It was briefly in there this morning and was held at the top by the upper trendline.. The lower trendline is offering some resistance now, but if we can push above 6.24p it will be back in the channel, and should trade back up to the upper trend line at 6.60p.

I watched in amazement and excitement Friday evening to see the Govt backing live on a Covid-19 briefing of all things.. Nobody would care if they gave a briefing in some press release or whatever, this is listened to by a lot of people and reported widely. I honestly thought we would be up 30-50% this morning, and we did indeed hit the 30%+ and tagged the 6.76 level I said was a target (78% Fiboncacci - it went to exactly 6.785p).

It is disappointing to see so many sales flooding in, and for it to fall back below 6p, but remember again - you will get people (like me) who bought in around 3.23p two weeks ago cashing in for almost 100% gains. You will get people who are in from way below that who are happy to sell once it tagged the previous high at 6.78p. You will get the market makers playing games and pulling the bids as we see time and again in this share.

Remember Friday when I said hold firm, that the strong buying interest would return in the afternoon, and it did indeed finish on the highs in the end at 5.10p. The early sells are hopefully done now, the SP formed a nice bullish triangle on the 15m chart and we are looking like it might break higher again out of that now, with the bid creeping back up again. The target from the measured move from the triangle breakout shouldl be around 7.25p and we could well get there today, or if not, I would think it's definitely possible by the end of the week. After that, 10-10.50p are the next targets.

We've been bull-flagging all day, it could be trying to break out now.. need the bid to come up to 5p though to stop those sells on the bid dragging it down. If we do break above the bull flag top around 5p though we could well retake the morning highs by the close of play.. Fingers crossed, would be a great end to a good week.

At first I was disappointed by the small amount, and I guess some others were too given how it has sold down to the 4.60s earlier. But looking again at the press release:

"The DfT has now made £0.5m of the Stage Two grant available to Velocys. Velocys is one of the two remaining companies expected to receive the balance of funding in Stage Two, subject to completion of future project milestones."

These are the key words: "has made £0.5m available" "one of two companies expected to receive the balance of funding, subject to future milestones"

So it is a clear thumbs-up from the Govt that they are going to get a decent chunk, and so confident are they that this is money well spent they are prepared to give them £0.5m straight away to help keep things moving. One milesetone is probably the confirmation of PP, which can't be far off, and the rest of the money will follow as they make progress.

The initial print at 5.39p and the subsequent trades up around 5.50p were probably the right reaction, then the market-makers started playing games and pulled away the bid, way back to 4.51p.. that got a few worried and enticed some scare-sells (and maybe even tight stop-losses below 4.76p were triggered). Hold firm, that is not bad news in my opinion and it should start to regain its footing. A small dip is not the end of the world though after a 50% run-up in less than two weeks.

5.30p ask now.. if they start hitting that and break through it, we'll have cleared that hurdle pretty easily.. onwards and upwards..

There is a seller sitting at 5.20p, he had over half a million on the ask this morning, and although it's been nibbled at, the size hasn't been big enough to take him out yet.. Also, there is a potential resistance around 5.28p if you draw a line from the Feb spike high at 6.76p through the PP high at 5.56p.. would be nice to clear that.. Good to see the buyers are staying strong though, they pull away every now and then and the bid drops to the MM at 4.81, but then they come back again around the 5p level, keeping the momentum going..

Really ticking along nicely now. MMs tried their silly games earlier pulling the bid back to 4.51p and tempted in a few scare sells, but the buyer keeps coming back and keeps buying in six-figure chunks. The 4.90p resistance looks to be toast now and this could very easily pop to 5.64-5.80p today.. 5.15p trading and we're really starting to break out now.. yeehaa!

Depends.. Most outlets take the closing price as the last trade of the day, which can include the auction closing price should it trade in a post-close auction, but you might find your broker prices up the value of your position at the end of the day at the mid-price, or maybe even at the sell price (seeing as that is what your position would be worth should you have to sell at the bid price.)

All the trades are visible to see from the 'VLS Share Trades' icon at the top of the VLS page here. They are delayed 15 mins, but at least you can see the volumes going through and at what price.

Cheers Sean.. More skullduggery in to the close today, a £101 trade ticks it down to 4.60p when it spent the majority of the day trading between 4.80-4.90p... let's see what happens tomorrow..

Could be a combination of things. The seller finally being filled on all his order and the next seller behind him being at 5.00 or 5.10p or something like that, causing the price to jump through. It could be that the bid keeps lifting to the point that the seller might actually realise that he'd be better off moving his offer back a bit and will still get done at a better price. The momentum is certainly one direction at the moment and I don't think the 4.90p resistance will last long, especially when you see the bid coming in to the 4.80s, they really want this.. eventually they will break through. You've got to remember there are going to be short term traders who will be trading off levels here and will be happy to be selling at 4.90p.. e.g. I topped up with a chunk last week at the bottom of the trend support at 3.23p, if I was to sell now at a known resistance line I'd be pocketing over 50% in a week.. not a bad return at all..

I think both. I think there is someone out there accumulating - the big 100,000, 200,000 buys, and also general interest has picked up in this stock in the last few weeks, and judging by the amount of new faces in this forum recently, lots of new buyers.. If that big seller hadn't killed it after the PP announcement we could be up around 6-8p already.