Today the initial support I have got is at 24c, with profit taking completed over the last 2 days. Resistance is going to be around the 26.5-27c level (the market reached this level 3 days ago only to fall back). We need a clear break of the 26.5-27c level to head towards 30c. This will be possible on the back of some news on Perkoa drilling, or offtake agreements.
It is really important (for a further rise) that AIM holds this nice upward trend line which commenced on the last week of September. If AIM breaks below 24c then all bets are off.
What's noticeable is the sell depth is thin up to 29c with only 2.3 million shares. I think today will be flat unless AIM announce something this afternoon or buyers start buying on anticipation of news.
AIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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