Tot ii ref 25m BUY!!26 Oct 2018 20:50
Well I’ve just been catching up after a couple of days away from my desk. This is getting really interesting now and big thanks to duknweev for copying Blue Vista’s post over here. It presents a really compelling case for a break out here next week, regardless of whether we have any formal news, for the pennies are clearly dropping and the chart is now looking perfectly poised for a run up to the 0.6p resistance with a positive momentum divergence and the CCI and RSI both heading north.
I think we can get to 0.6p quite quickly once the shorts really start to cover, and if I was short I’d be looking to do that once the bid has moved up to 0.44 or thereabouts as we are likely to see momentum chasers moving in quickly at that juncture.
That 25m trade reported just before the close should also give the shorts cause for concern as it has a LRGS code which stands for Large in Scale Deferral, meaning that it was probably a buy order worked over a couple of days. I would also hazard a guess that some of the late afternoon sells we have seen here over the past few weeks have been from shorters extending their positions to prevent a price breakout emerging, but now the tide is turning, and like King Canute they will not be able to stop it rising, particularly if some of us longs can do our bit by buying into the close, rather that early doors. Just one more positive candle is all we need to get this baby moving up sharply imho.
Have a great weekend all,