Member Info for toneman

I think it's probably fair to say that Technical Analysis (TA) isn't really investing, as by definition you're nor really 'invested' in the future of a particular company. Many technical analysts don't care what a company does and often don't even want to know as it may cloud their chart analysis. TA is really a gamble on the predictable behaviour of people. The only reason I would give it any merit at all is that so many people try and do it (because it's easier than reading a financial report) that it becomes its own self fulfilling prophecy. It does however mean you can miss out on long term growth of a company if you sold out as it hit the last resistance level.

Fortnefvrsbrve, I can see why it might be hard to identify based on a price of 1.07, assuming you're talking about ITM and not another stock, as 1.07 is miles away from where we are today. Not seen since March last year I think.

Support and resistance are just prices that the stock finds it difficult to break through. Technical Analysis (trying to predict future price movements based on patterns of past prices) plots trend lines of peaks and troughs to build up those patterns. The lines joining troughs tend to be considered support as they support the price stopping it going lower, and lines joining peaks are resistance as they resist the price going higher. These lines don't even have to be horizontal so, for example, people predict where future support will be on a rising trend in the hope of choosing the optimum price to buy after a short term drop in price.

In the case of ITM, I would expect something more like 507 would have been considered a short term resistance price, whereas something like 407 would be a support price. I don't know where 107 would have come from. I hope we're not going to be testing that support any time soon.

https://www.investopedia.com/trading/support-and-resistance-basics/

Doesn't look like the US were able to hang on to the high gains. Probably means we'll be following them back down tomorrow.

Happy Earth Day everyone.

It is recorded as "off-book". I'm no expert but sounds like this is a trade directly between two parties. Maybe it will show up in a future RNS if it has triggered a notifiable event. Will it affect our price later? Who knows? Maybe if it's taken a big seller off the table we can see some share growth later.

I think you have to face it that hydrogen is no longer the best kept secret on the stock market. It's now a recognised sector even with dedicated funds. So where before we had individual companies with prices driven by their own news, instead today there is going to be a lot of sector movement. Over the last few days for example the negative sentiment on clean energy stocks in the USA has driven us down too and there's nothing that tiny bits of positive news out of ITM can do about it. A major bit of news might do it, like for example a humungous project from Snam.

But for now the way I'm playing it is that as long as the snippets out of ITM show that it is still on the steady path to a factory full of orders, and therefore a second factory, then the future valuation of the company will unfold and it's higher than today. But you're going to have to be prepared to wait and watch for a few years, not a few weeks. In the meantime you can also expect several changes in sentiment for the entire sector which will continue to bounce us up and down in 25%-50% waves.

I've wondered about that before Bilbs. It just seems a bit of an unnecessary risk for MMs to take, particularly with a volatile stock. I expect they're under no obligation to buy stock from a seller, but yes there's probably no other reason why they wouldn't choose to hold the stock themselves, at least if they thought they'd be pushing the price upwards tomorrow.

So hopefully that 326608 UT contains most, if not all, of the anticipated sell order. All we can say is that it's the best price they could match a number willing to buy at a price the sellers were content to sell. It doesn't necessarily mean it was enough to clear the sell backlog. It may be that the big seller(s) simply come back to the market tomorrow if they still want to offload some more.

I expect to see something like that SaleSale. Keeping half an eye on it throughout the day there hasn't been an obvious catch up on the sell side yet has there. And if it had swung properly in favour of buyers I'd have expected a proper upturn in the price, which we haven't seen either. Maybe all will be clearer soon, otherwise hard to explain.

Boaty, it often signifies larger sell orders being fulfilled which you won't see until they're complete. The price is lowered (often significantly) to attract enough buyers to take the other side of those large trades. When sentiment turns a little down, like it has of late, then the price drops have to be pretty significant to encourage some brave buyers out of hiding.

I wonder what happens to it after 99 years. Sounds like another "someone else's problem" to me.

matcur, the closing price is always set by the UT at 1635 (unless multiple auctions are required). So today 's was 473.80 with a reasonably buoyant 318373 shares changing hands. I suspect some anticipating a bounce back tomorrow morning as the price suggests it was meeting buyers demands.

Hi londoner7, thanks for the comprehensive summary. It's hard to find suitable companies in the UK that are publicly traded isn't it? A deep dive into funds that invest in unquoted companies might throw up a suitable fund... although my investment in Woodford Patient Capital didn't work out very well.

The only companies I'm currently invested in that I think meet your conditions are
Invinity Energy Systems
Nexus Infrastructure (sort of)
Velocys.

Velocys may not qualify if Waste to Fuel is too similar to Waste to Energy.

Naturally DYOR applies and, if further caveat is required, I'm currently down 32% on Invinity.

londoner7, if you're still there, do you mind if I ask why not wind, solar and waste to energy? Do you already have too much of that or is there an interesting reason to avoid it? Appreciate your feedback.

It's been over a year (hasn't it?) since the FTSE 100 was over 7000. Next stop 8000 :-D

That puts Ballard at 52% down from its peak, Fuel Cell 67% down from peak and Plug down 67% from peak. Can't wait to hear what Plug's accounting irregularities were actually all about.

Anyone keeping an eye on USA hydrogen stocks today?

Ballard down 9%
Fuel Cell down 15%
Plug Power down 12%

Signed Boaty. Number 30.

matcur, my assessment would be that we are taking a breather after a pretty good recovery from the recent lows. Even to support current levels the newsflow has to be broadly positive, which is all that today's RNS really was - an already known customer/partner reconfirming that the required positivity is on track. If you wanted you could put a negative spin on it saying "blimey, this is slow going" but I wouldn't go as far as that.

I suspect that the sort of newsflow we'd need to noticeably move the needle would be new partners or really massive order confirmations (100MW+). But with Snam and Linde already seen as massive, and seemingly committed, I wonder how many 'new' partnerships are really being worked on, or close to being announced?

As long as we stay on track then 'needle movers' would be nice but aren't required. What is required, at the very least, is more confirmation announcements like today's which dispel any notion that this is just a bubble, then much of the downward pressure will start to disappear.

I accept that planned infrastructure is probably better than an unplanned free-for-all, but why can't we speed up our system considerably. These sorts of planning changes should take no more than 4 weeks.