Just a very quick TA of what we are seeing. It's still floating on low volume - but continues to look more and more poised (imo). Both on the weekly (which is good), but also on the monthly timeframe, it's looking good.
Weekly: - Basing out nicely on lowering volume, and less and less momentum to the downside. - MACD: has been pressed to the very lows, and is almost starting to track sideways - if that blue line, crosses the orange control line, then we know what's next. Poised. (refer to historical green squares). - Stochs: pretty obvious it's in oversold territory here - and has now been pressed for the longest period of time into this oversold region over the last 3 years (think of it as trying to push a beach ball deeper and deeper under the water of a pool - what happens when you let go?). Displaying striking similarities with the prolongued draw-down of May 2022 - November 2022) (red lines on the stochs).
- Word of caution: there is nothing stopping a speculative investment like this from dropping further (circa 0.01-1.012) - BUT - assuming the narrative unfolds (license grant, farmin, environmental permits, scheduled drill in 2025) - then it will speculativly be worth multiples of this.
It's pretty obvious the SP currently will need to be catalyst driven at this point - ie, real value created for PCL (such as granting of license, WDS confirmed farm in, etc). There is peripheral catalysts such as drills currently underway (chevron, galp, ENI) which is what 'traders' will look for, which might result in sp blips up/down - but we need to now quite simply backup this Technical Analysis (TA), with actual Fundementals (FA).Let's see how it all unfolds. Patience.
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)