RE: Some reverse psychology at play here today10 Feb 2021 15:32
Some facts:
Since the placing was announced on 23/11, UFO has traded in a tight range between 1.075p and 1.275p. Call it 1.175p +/- 0.1p. Only on 4 days (out of 54) has it closed above 1.275p, and only on 4 days has it closed below 1.075p.
On an intraday basis, it jiggles a little (+/- 4%) but that is largely because of the stepped profile in the quoted spread.
Movements within those ranges can be considered just to be the usual brownian motion associated with AIM shares.
And yet... Each time we approach the bottom of the trading range, "accumulation" is taking place, the sp is being "held down to fill insto orders", "market makers are shaking the tree" etc. At some point Chris2 or others of his ilk pop in to say they are watching the price drain away. And each time we approach the top of the range, "boom", "buys are flooding in", "re-rate is happening", "TR1 expected"...
I generally refrain from commenting, but honestly it's like watching the audience at a pantomime; "behind you", "oh yes it is / oh no it isn't". Just parroted worn-out refrains, but without the fun. It's just noise....
The price will move when there is meaningful new news. Probably slightly earlier than it should relative to any formal announcement. Until then it's a waiting game.
As Max likes to remind us - and he is right - the company is active across a range of interesting projects, any one of which might provoke a step-change in the price. As someone (myavian?) posted earlier it's not going to be possible to time your way in ahead of one of these. All you have to do is hold, and ignore the noise....
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