RE: Trades24 May 2023 15:41
Legal, I have no idea what the SP will do. I think and hope that a drill rig confirmation will cause a rise in the SP but I don't know. (It might sound pedantic, but I have spent so long not assuming anything that I type what I am thinking).
I accept your observations in your first point, but I take a sceptical view about what companies say and tend to assume that there is a lot of exaggeration. Just because the mouthpiece changes doesn't mean the over-egging will. (I also accept that's just me, but that is based on my experience rather than just being pessimistic, say).
When i first started looking at drill companies, the more "knowledgeable" contributors would post an expectation when the company spudded there would be a SP spike or rise, but that has not been my experience. (I may have been confusing with my original view/post, so apologies if that's the case).
My interpretation of the chart says we are in a trading range between 6.12- 7.3.
I separate my thoughts from the TA view which I also accept can be confusing....
I am long on this having bought some when it had its cash raise and added twice since. I have my exit points too but its a bit convoluted and pretty dry stuff that I find works for me but is of no interest to others I am sure.
In a nutshell once I find a stock that looks like it has a good chance of appreciation I go through various scenarios to work out the risk/reward to determine how much I should risk in monetary terms.
Currently I like this stock on the basis that I think it will drill at some stage. But as we have seen that's not a complete given even after the cash raise. I just try not to assume anything and always constantly look at the worse case scenario and has that chance of it happening increased or decreased as new news comes out or SP action may indicate.
I apologise if it seems a bit negative, or doubtful but I work from a safety first stand point of preserving capital and am always looking each day at the charts and news feeds to see if anything has changed. Ultimately I don't feel either of those two states of mind on HE1, its just numbers to me which will cause a reaction as and when certain figures are reached.
Right now I am waiting for it to break out above 7.3p, which it may or may not do.
ATB