There's no off topic board as far as I'm aware, then again I've never looked.
Would have thought we're looking good for a nice rise in the morning. If there is an accumulator they seem to be in a rush to get the shares.
I say this because without the strong AT buying in the last trading session, this share would almost certainly have drifted sideways or downwards until we got some news to power it back up. Not talking about large drops, just 2-3% here and there.
But the fact they weren't prepared to wait for the small drop, and were indeed prepared to back the rise with volume up to the 22's shows that time is a problem for them- either they want to get a takeover/large share accumulation done with before any drilling action in Georgia/Puntland, or are aware of some positive news that will see this higher in the near future and so can't be waiting around for little drops.
The trading last Thursday (the day when we shot up to 24.5p) was backed by volume up until the 22's as well. The increase from 22-24.5p was not and so the inevitable fallback happened with profit taking.
But if there is an accumulator they seem to be buying up anything at 22p or less (this is the extent to which the rise has been backed with volume so far), which suggests we're actually at a good support level for the stock (22.5p currently) with little downside risk at current prices so long as the accumulator keeps up their appetite for shares at this level.
So with support at the current levels, and lots of news due to come out over March/April, this one is a definite hold/buy more if you've got funds IMO.
RRS Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
