Chart pattern projection to +14 cents, page-14

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05/07/21

22:48

Post #: 54300575
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Originally posted by sydneysider ↑

POS has built a massive technical base when viewed on a 5 year weekly chart. The base low was 2 cents and the breakout point was 8 cents for a total of 6 cents. Looks like a massive cup and saucer formation that took 5 years to build and broke out recently when the share price went above 8 cents on average weekly volume of 25 million shares, up from 15 million shares. There were a number of buying spikes that hit above 60 million shares.

Cup and saucer formations that take 5 years to build and breakout are extremely bullish long term indicators. In this case the count total of 6 cents can be added to the recent breakout point of 8 cents for a total of 14 cents as a minimum projection. The fact that the entire cup and saucer took 5 years to build indicates that POS has built a massive base and should far exceed the initial projection of 14 cents.

All of the technical buy indicators that I follow on POS are flashing green, and the recent pullback to 6 cents is a gift. I have accumulated a position of 2M shares at at an average price of 7.4 cents and am looking for an exit point that will fall into the 30-50 cent range over next 24 months. Some of that position will be traded on a short term basis as there will be multiple entry and exit points as POS approaches "maximum valuation".

Institutional investors operate on specific fundamental parameters that take into account JORC resources and Bankable Feasibility Studies (for an emerging near term "potential" producer such as POS) that project into future EBITDA. We cannot forecast future cash flows until we have drilled out Golden Swan, which in my humble opinion will develop into a very significant and high grade nickel resource that will become a massive cash cow. Currently we have 16,000 tonnes of high grade nickel at the bottom of Silver Swan (that remains open at depth) that we could mine immediately and sell as Direct Shipping Ore.

The drilling and technical work at Golden Swan (utilizing EM technology) has IMHO only scratched the surface of very significant lava flows that host high grade nickel in the area (currently at Golden and Silver Swan). The application of this EM technology by a very competent management team has the potential to make a number of new finds that will send the POS market valuation into a multi-billion dollar range over the next 24 months.

Good luck to all longs, enjoy the ride, and do not fret over the nickel and dime traders who trade for a few pips on one of the most exciting, under-reported mine redevelopment stories in WA (and possibly the global nickel world).

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Getting close to your initial projection of 14 cents sydneysider. It might even come tomorrow.

What’s your latest projections?

POS Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $16.81M

Open	High	Low	Value	Volume
0.4¢	0.4¢	0.4¢	$3.474K	884.0K

Buyers (Bids)

No.	Vol.	Price($)
121	96597061	0.3¢

Sellers (Offers)

Price($)	Vol.	No.
0.4¢	51477989	56

View Market Depth

No.	Vol.	Price($)
111	93529221	0.003
38	66812489	0.002
16	35378697	0.001
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.004	50650142	48
0.005	28729993	19
0.006	7638997	9
0.007	1668099	8
0.008	1800000	1

Last trade - 16.10pm 04/10/2024 (20 minute delay)

POS (ASX) Chart

Chart pattern projection to +14 cents, page-14

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Chart pattern projection to +14 cents, page-14

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