@vein1 - I'm not about to make any predictions about when the next re-trace will be. I rely more on fundamentals than technical analysis - but am still interested. Sometimes fundamentals will overrule TA and sometimes TA will overrule the fundamentals.
However, at this stage, there is strong momentum. For what its worth, I think this is fueled by HIO being undervalued based on fundamentals and an increase in awareness and confidence in HIO.
Whilst the momentum could slow, and the share price stall here and there, but I don't think a retrace of any significance is likely in the short term because of the factors I mentioned in my post above. If one or more of them were to change, then that might change and it could - but I don't expect it to in a hurry. I think there will be plenty of people catching up over Easter, talking to friends and family about what HIO has done and will do, which will in turn generate more interest and support for the current price and momentum.
I think 80 cents will be very interesting.
On one hand, I think we could get there very quickly. It will then be interesting to see if the technical analysis and trading takes over and the share prices goes further north from there.
On the other hand, there will be some that do not have confidence in their own analysis and when it reaches the price in the research report, could decide to sell some of their holdings. The could change the momentum and cause a retrace.
It's hard to say, but I would say that if it retraced from around 80 cents it will be short lived because too many will see 80 cents as still materially undervalued (expecting a higher NPV than the research report or less shares to be issued for construction funding than assumed in the research report which assumed capital raising at 50 cents from memory) PLUS there will be high confidence that HIO will build a mine and the share price will reach the $2.80 in the research report before too long.
And that doesn't take into account any announcements along the way. My thoughts and musings only, but hope that helps.
