Morning all,
Another very encouraging day yesterday. The recent Telink announcement combined with the easy-to-understand publication from 'The Next Tech Stock' appears to have hit a sweet spot with investors.
And importantly, we can now say that 100% of those who invested and held on to their shares since the initial RYG/Xped announcement last year are happily in the GREEN. Congratulations to all of those people.
Make no mistake, closing on an all time high is an extremely important psychological booster for XPE investors and paves the way for higher prices IMO. One thing that was very evident yesterday was the relentless buying whenever volume resistance appeared. But the higher the price the less volume resistance there was. I often rely on gut feel (learning to trust your instincts) and it feels as though some very deep pockets are fuelling this latest rally. Whether it is TA or FA driven (suspect both) the ship has had no signs of any leaks thus far, but could a major announcement be just around the corner?
It certainly feels that way.
Both shares and options blowing past the previous high at the end of the day (and with total disrespect I might add) was the result of complete and utter exhaustion amongst sellers. There were literally no sellers towards the close, day trader targets/expectations were already hit and they had no impact at the close - very unusual action and exciting to see.
As Trader 10 has already point out, yesterday's action resulted in a extremely bullish marubozu candle appearing on the daily chart. The ramifications are more than encouraging IMO.
The below snapshot shows that our market cap still looks very reasonable IMO, despite the recent gains.
Also note the healthy cash balance estimate at the end of July.
Cash at bank estimate includes the following;
* est. June qtr expenditure of approx. $900k operating outflows + $300k investment outflows
* $480k re-listing expense overhang from the March Qtr (confirmed by the company secretary)
* 100% conversion of remaining options from April 1 and expiring 21st July, generating a further A$5.7m.
* A$1 million initial cash payment to JCT (assuming the transaction proceeds)
* A$1.5M (note company estimate was up to US$1.3m or A$1.7m) from the sale of the Sokoria Geothermal project.
![]()
GLTA and note that some of the information above is my opinion only, maybe incorrect and therefore should not be considered as advise of any kind. Please DYOR.
Cheers
Elpha
- Forums
- ASX - By Stock
- OAK
- XPE General Topics
XPE General Topics, page-2342
-
- There are more pages in this discussion • 2,196 more messages in this thread...
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add OAK (ASX) to my watchlist
|
|||||
Last
6.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.862M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 25000 | 7.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.5¢ | 1524 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 25000 | 0.070 |
3 | 39 | 0.069 |
2 | 180000 | 0.060 |
1 | 20100 | 0.059 |
1 | 86000 | 0.058 |
Price($) | Vol. | No. |
---|---|---|
0.095 | 1524 | 1 |
0.096 | 52424 | 1 |
0.175 | 22450 | 1 |
0.180 | 30000 | 1 |
0.190 | 29137 | 1 |
Last trade - 16.12pm 02/08/2024 (20 minute delay) ? |
Featured News
GML
Gateway Mining sells WA Eastern Montague gold project to Brightstar for $14M – half of that in shares
STX
Strike hands $48.5M contract to Clarke Energy to produce 20x 4.5MW gas engines for Sth Erregulla
AVH
Avita boosts skin restoration product portfolio with 'dermal matrix' – a kind of next-level gauze made of fake skin
OAK (ASX) Chart |
Day chart unavailable