Yeah, the problem with technical analysis is that it's highly subjective. Klothco is clearly reading it with the view it will rise and Immentoday is clearly reading it with the view it will go down.
Objectively they both have validity to their arguments from an FA and TA view.
I think Immentoday is right to claim that the current chart indicates a declining trend, it has effectively been in decline since October last year when there was a blow off top.
Klothco is right to claim that there is strong potential upside to this company, as from April the bollinger bands have tightened up and the pattern is marginally in an upward trend. I would read it more as a stagnant holding pattern.
There is no secret however that this company trades in a matter that in unappealing to the market. For the past 3 months it effectively has been more likely to fall each day on low volume then it is to rise. With each announcement the price rises slightly before drifting back down. This provide immense opportunity to take profits which is what Immentoday often says he is doing.
I don't agree with immentoday as he uses the guise of 'tongue and cheek' and the inability to determine nuance online as a way making claims against the company which I don't believe to be true. These statements include lifestyle company, criticism of the management team as being ineffective etc.
I do however have to agree with him in his comments of the ‘cheer squad’ who undoubtedly support this company and are what is providing the value to the current share price.
I think the company has many benefits and there is limited downside comparative to upside, however the current business structure does leave much to be desired from a marketing aspect. I understand that they are more concerned with using their current capital to fund exploration and not wishing to dilute the share price but as we head further and further into the kitty and no direction as to when the exploration will turn into production, this company remains highly speculative.
This entire forum has moved from the prospects and potential of the company with analytics of the current projects, to a ‘he said she said’ discussion with constant pissing contests in between. It makes investing terribly frustrating as you’re watching the faults of you fellow shareholders thinking which should force you to question your own thinking. I don’t believe in ignoring people as this is the mark of a weak thinker. If you cannot listen to the opposition’s arguments, you cannot confidentially confirm your own.
I have stopped buying as I hold a comfortable amount from sub 20c, however for many investors here I don’t believe this is the case and for them I understand the reason to routinely sell off shares if they think they can deploy the capital better elsewhere, that is the nature of markets and what makes then so efficient in the production of goods and services.
In conclusion I don’t think anyone right now actually has a solid idea of where this company will be in the next 6 months, they are currently simply put, expectations and delusions. I have seen comments of multiple dollar valuations and minimal cent valuations, all is too deterministic from my perspective and should be treated with caution. I do hope the team can provide further guidance with an announcement shortly, however I am not holding my breath
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