That is a good example AD1- the actual news is decent also in a sector that is in focus and will be moving forward in the current climate - the second announcement also good - cash flow positive- long term locked in contracts - and more imminent - blah blah
Chart wise it has an upthrust now to resolve - so that means you have to watch to see what is going on with the trapped supply overhead looking for an exit - which inevitably a chunk of that is trapped traders -although the volume suggests to me that it initially pulled back on low volume so perhaps the supply is being absorbed = bought up - You just have to watch it from here - new volume stepped in on the third weekly candle = good - but again hit with the over head supply however held up above support -
It is possible that it will need to shake out and retest that support - at which point it would be a buy if it springs back (imo) - Unfortunately so many variables now in this situation - but usually after an upthrust it will take time to resolve - there is a section on upthrusts in Jako8558 lessons in the education forum - which for me was a great insight - they need to be heeded and will cause trouble moving forward unless that supply is resolved in some way - One good further announcement of more contracts will be a renewed catalyst though so if that happens it will be a game changer - I would be looking for any break above .038 in that case - as previously stated - It is Complicated The next weekly candle will be interesting to see - but this is one of those charts @Lambrae that you want to keep an eye on - has potential and makes money -
