SHP Chart Only, page-98

Unfortunately, for various reasons, 19c chart support on SHP has broken today, with a close at 18c. For me, this is now a sell on technicals (but remains a buy on fundamentals). I've locked in some profits by selling half of my SHP holding and will look to re-accumulate around the next support level, which is 13c. The fall through support, which breaks the short and medium-term uptrend, is possibly due to two key factors. Firstly, Delphi (German-based fund) continues to sell alongside Euroz Hartleys option sellers. They are in sizeable profit and are perhaps offsetting losses elsewhere as they have been underperforming of late. Secondly, OHM-02 drilling results appear to be delayed relative to previous company guidance. This is due to lab delays according to company management. There is the risk that these results will deviate from historical drilling although I consider this unlikely personally. Following the OHM-02 and OHM-01 drilling results, the major upcoming milestones remain the resource upgrade and the scoping study. These were previously scheduled for May and June respectively, yet are likely to now be delayed to June and July respectively, due to the assay delays. In the short term, SP momentum has been lost, but in the long term, the intrinsic value of this company should still be dictated by the quality of these announcements (or otherwise). I suspect the share price might retrace to near 13c in the short term, where it should find new support. Note: As a full-time private investor, I have an active approach to the markets. Being active in the markets has both strengths and weaknesses; I certainly don't believe it is the best approach for everyone. Good luck to all.