Hopefully the real chartist @W3hunter pops his head in here and offers his expert opinion.
The view from this amateur hack who's been accumulating with the easy swing trading this has offered the last few months, is that momentum has turned south, along with the MA's. I expect it to head back to the support of 0.5c over the coming week, which is close to the absurdly stupid CR price of 0.35c that the CEO gifted his mates in the finance industry.
It has gapped down several times. Gaps tend to fill.
As I've said previously, I expect there to be a pump as the date for the second CR tranche draws near (12th March), so that the boys club can flip their super cheap shares for 2 x to 3 x.
Annoyance aside at the ineptitude of the board, there's a very good chance that with good results and a tailwind, ENV can replicate, somewhat at least, what the likes of PTR have achieved over the last 6 months, and enjoy a big re-rate (they 20 bagged). Rare earths are now in the spotlight, as is titanium. I can see this shooting to a $50m+ MC with any kind of decent PFS being released the next 12 months. The drill bit and metallurgy results are key. Otherwise it remains a penny dreadful and you take your chances:
Manipulated pump target likely to be around 1.1c like last time, so the "sophisticated" investors can treble their money, then dump to never be seen again.
I seriously believe the CEO needs some help. He's clearly an excellent geologist, but a bit clueless where finance is concerned. Real pity. We could be sitting on an absolute titanium REE gold mine here. Or nothing. That's the "fun" of investing in this end of the market.
ENV Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
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