RE: Malcy's Blog12 Sep 2022 15:45
BV, I think the fact that nothing goes up in a straight line is being ignored here. Yes, on Friday we touched 2.9p and today we are at 2.4p - big deal … a few days ago we were at 1.2p … we are now 100% up.
Came down of Friday due to the warrants and some LTHs (like Baits) clearing out with a profit. I am still holding.
The facts are we now have a steadily increasing and stabilising flow, we have a very strong support at 2.075p (tested 5 times), we have a bullish harami at this support formed last Friday, and we have a resistance at 2.825p, tested several times and repelled the SP back three times. The chances are next time the SP goes up it will take the 2.825p resistance out. After that is off to attacking 4.10p, and then we see.
The fact is the steadily improving flow rate will underpin the next SP advance and in all likelihood is … bye bye 2.825p. Hold on to your hats.