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Max the individual failed to address the gap down in 2011 around the 6-7 pence mark, this will have alot of resistance. However I do believe as mentioned in one of my previous comments UFO had the ability of achieving 30 pence
Evening all,
I usually keep my posts formal and technical , but casa, the balance sheet is as strong as UFO has ever been , with 2021 going to be their first profitable year due to the upfront payment and farm out. There is no chance of them carrying out a placing this year , as there is no need. Moral of the story don't put your finger in the air and guess because I will guarantee next week you will probably try find something else to try dilute this share (in your head)
Afternoon all,
From a technical stand point we are in a wedge formation which has bounced off the support 4 times on the daily time frame, therefore I see this testing it's resistance by Monday , thus us further supported by MACD due to go bullish around this timeframe
Afternoon all,
I've been on this forum for a while now and have seen some funny comments. It seems people cannot control their emotions when the stock price doesn't replicate what it should be doing in reality. For those that are browning their pants as we speak due to the retracement, relax, the market is retesting the area where the SP broke out from, the SP was in a descending triangle pattern for a very long time, and finally broke out yesterday so it is only naturally for it to retest the area for which it broke out from to ensure that it is a strong enough support.
Morning all,
I wouldn't pay too much attention to the falling of the share price as the price has developed a descending wedge pattern on the H1 with the RSI pushing into oversold territory. We shall soon have a break out and a large one as the demand zone lies around the 1.32 - 1.46 level and should test the 2p soon.
Morning all,
strong support at 1.61, furthermore, it seems alot of trades are going off the books. In my opinion I believe the only direct factor suppressing the share price is the 14m warrants that will be issued on the 6 of Nov; after the 6 I see the SP pushing onwards and upwards.
Morning all,
I ran some numbers to calculate what Alien Metals may receive from this joint venture for Hamersley. I have used the data presented on the 25/8/2020; I have taken the worse case scenario from the set of results produced. The data suggests a range between 74 - 245 Mt of Fe (53%), for the sake of my calculation lets take the lowest anticipated amount of "Fe" that can be extracted from Hamersley; which is 74Mt (@53% Fe). 1 Mt = 1,000,000 metric tons, and as the current price of iron per metric ton stands at $120 and is looking to climb to replicate the highs of January 2008 which stood at $193.37 per metric ton then this mine has the potential to generate $4,706,400,000. Yet again for the sake of the discussion Alien Metals are entitled to 20% or 5% in royalties if they decide not to contribute financially to plant/labour to help aid the extract of the mineral. Therefore, the worse case scenario is that Alien metals receives a pay out of $941,280,000 or $235,320,000.
It's good to see you as well I actually topped up on the pullback yesterday, there was alot of off the books trading and this can unfortunately suppress the SP. Furthermore it seems alot of people were disappointed with the outcome of the JV; in my eyes the deal was a very good one with many more to follow. 2021 might be the first year UFO actually have a positive cashflow and see its first profits in the balance sheets.
Morning all,
SP has bounced off the 61.8 fib level and needs to break past 1.90; if this share does break through 1.90 , it will retest 2.5 before pulling back and retesting its new support level before pushing forward to 3.
Afternoon all,
The current momentum of UFO has pushed it to a price where it hasn't been for a long time. Currently the share has a resistance at 1.928 and 2 supports one at 1.6099 and a more stronger support at 1.3031. The share price broke out of the descending triangle this morning and has retested the support of 1.6099 ; if the SP holds above 1.6 look for 2.