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Cheeky-Charm

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14/09/22

13:36

Post #: 63694259
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Originally posted by Cheeky-Charm: ↑

In my opinion TMK is actually doing a great job in regards to updating the market as well as shareholders on progressions made.

Here is a link I made some commentary as to my thoughts regarding why the share price isn't moving too much at the moment.

https://hotcopper.com.au/threads/ann-good-oil-conference-presentation.6945178/page-3?post_id=63568576Basically put, it has way too many shares on issue. Hence the slow pip moves.

A basic chart for general discussion purposes...

I have highlighted the nature of TMK's slow move. It spends the majority of it's like in a consolidation zone. Just when you think things look good, THEY SHAKEOUT the consolidation and then rip it straight into an overhead supply level generally off a news catalyst.

Right now in the chart, things look "nice" but order book has heaps of sellers with the high probability of all the 1c Buyers getting filled....that would act as the "shakeout type pattern" before they rip it back up perhaps.

Too early to tell, there is NO BUY OR SELL signal...just a sideways stock with too much shares on issue unfortunately. I do like their project. Maybe in 5 to 10 years it will be 10c stock? Good luck holders! Sit n Forget on a chart pattern like that lol surely in several months it'll make a maximum potential of 80% upside from current prices.

All my OPINION based on DYOR for technical and fundamental parameters.

EDIT:
Market Depth attached....As per classic HC it never uploads so I';; have to do another post just to share it...

As can see insiders probably want the fill before prices move anywhere. Boring

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TMK Depth as can be seen, supply far outstrips demand here. Cannot see prices moving up with such a suppressed order book. Definitely deliberate. Therefore won't be holding high hopes or holding breaths just yet. Clearly they want more, holding it back until they do.

They got all the good news catalysts lined up for a move in the medium term and so if I was insider Soph type of guy, I'd be privvy to things and loading at the cheap.

Just because they are though doesn't mean I SHOULD... they have far larger capital and timeframes to myself

TMK Price at posting: 1.1¢ Sentiment: None Disclosure: Not Held
5 Upvote

1 Great analysis

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