Thank you for the link, he has a monthly trend line back dating all the way to mid 2011. It seems achievable 1.5 is the upper bound and in my eyes that is achievable if the JV news comes in this month. I will say if we break 2p look for 6.32p to close the gap down from 1 september 2015. This stock will close that gap and you will see this being more than a 10 fold from here. So just to summarise I believe 1.5p by the end of this month based on the technical analysis given by that link is achievable, however it is aggressive. I would say .84 at the end of this month is more realistic.
Thank you for the positive comments, I only invest where I see value, and UFO holds a considerable amount of it. The main reason for why I am heavily invested in UFO is one, due to the recession we are heading into. What you will see is metals value will start to climb (as it is a safe haven and storage of wealth) and also the cryptomarket start to climb. UFO's best performance happened during the 2008 crash and the back end of the credit crunch and long and painful recession. UFO sits on a strong hold of untapped silver (which has proven time and time again that it out shines most metals and tends to set the trend during economic uncertainty). Additionally China are looking to improve on infrastructure and are in need of copper and iron which UFO portfolio covers. More-over, UFO have also have a considerable amount of Iron that is waiting to be excavated. Furthermore, there is a JV coming shortly and this will only shine light onto UFO for further JV's on other areas of their portfolio. I love looking at the technical side of shares but UFO is a stock that is undervalued and will shine both from a technical and fundamental stand point.
Afternoon all, it looks like we broke out the descending triangle this morning; generally due to positive fundamentals. The current support sits at .47 and the resistance stands at .63 however, we are now in a ascending channel, so this should have a few pull backs but will naturally climb to the next milestone of .73-.75.
I just increased my position in UFO, from a technical stand point we are seeing a slight retracement to .3815 due to it being overbought, however, the RSI is now within bounds for another leg up and this is further backed by the current view on H1 showing a bullish flag pattern. Prepare yourself for the next leg up to .5 .
Evening all, as mentioned previously , the share price had started to form a head and shoulders pattern, I mentioned the neckline was at .24 ; the left shoulder, head and right shoulders had been formed on the H4. However, as suggested previously the right shoulder will not break the neckline at .24 , additionally to support this claim the area of support has seen multiple rejections. Come Monday prepare for bullish moves to break the descending triangle, and once the SP breaks .315 level look for .4. Have a good weekend and GLA
I am on IG the sell and buy spread is 0.279 and 0.290 respectively; you are
potentially looking at UFO retracing back to 0.24 before pushing up to 0.30-0.31 before testing 0.24 again. This is primarily down to the fact there is a early sign of a head and shoulders pattern on the 4H and 1H; with the neckline at .24 and the right shoulder to be at .30 -.31. The good side based on technical .24 is a strong resistance therefore I do not believe it will break the neck line and see further downside. Lastly the fundamentals look positive and I see this pushing aggressively once it breaks above .315 (due to there also being a descending triangle pattern forming on the 1H) .