Thank you for the flowers. This is a forum where we discuss what could happen. But almost always we don't know what will happen. Not even me. I only think about possibilities.
What really happens in the end depends on results (and surprises). Think back to January 2021 - out of nowhere came the news about Trafalgar and the SP moved from around 3.5 to 11 cents and then on to 15 cents in a very short time.
You don't read "something" like that out of any announcement and no chart analysis can help you there either. Many investors are driven by momentum. They see on Hotcopper that the company xx has gained e.g. 25%, ask themselves why, look and then buy. Other investors (e.g. me) buy the story and accumulate over a longer period - and wait for the story to unfold.
Looking at the chart, I think we are now at resistance. The next resistance zone would be around 10-11 cents and the highs of the last 2 years - around 13 and 15 cents. As I said - the chart can be an indication to better understand "side noises" but at the end it has a limited significance - as the breakouts to the upside (or downside) are almost always driven by facts.
In a perfect world - we could end up at 20 cents around Christmas and 30+ in February (according to Elliot Wave). But that is pure theory. If the results disappoint, nothing at all happens. On the other hand, if the results are right, then many people look at the chart and know everything better.
I am convinced that the next few weeks will be very exciting. Somehow I have the feeling that various things could come together and the starting position for the next exploration season (2023) could not be better. The HMX team has, in my opinion, worked for a long time to get into this position and it would be nice (and fair) if they were now rewarded (and also the patient shareholders).
I think we'll just enjoy the weekend and see what happens next week.
HMX Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
