support level breach exposes weakness, page-5

You need to know the history of how RES trades to understand it fully gssfin. Many here have watched RES daily for 3+ years. Last week it went up 17.5% after NEMA announcement. IMO approx 40c is about where the market values RES at the moment and it's been trading within a 10% margin of 40c for the past 8 or 9 months (with the occasional break to the upside / downside here and there). The reason it dropped to 40 cents in Aug/Sep last year was in part due to the market becoming aware of delays in the NEMA & IWULA approvals, hence setting the Transnet/Eskom contracts back and ultimately putting the project on hold.

Mark my words, the stock will trade at or around 35 - 45 cents until IWULA approval, Transnet contract etc... at which point it will re-rate significantly.