Don't mind the setup here for GLL, worth a look from a technical perspective at a minimum.
Short term - dailyPlenty of volume demand over the past two weeks resulting in price action clearing the 43d MA and resistance that was 31c, that is now support. Nice to see a little retest of this support earlier today, before really starting to go on with it.
MACD crossing up through the 0 control line is usually when a price action starts to really heat up. RSI continuing to trend nicely, with room to move before overbought signals appear. A move into the low 40's looks to be the next stop in terms of possible resistance. The offer on market looks quite thin past 40c, which can certainly change at anytime. Interesting none the less.
If we see price action back in the 33.5c - 32c range I think this will be a gift that should be taken advantage of!
View attachment 4309453Medium term - weeklyPrice action having bottomed on the RSI, with two weeks now of good buying to force a positive MACD cross. Next resistance possible at the 41c mark that will need to be cleared in order to see a move back into the low 50's as a secondary target.
View attachment 4309429A couple of points on the FA side that I don't mind;
- Production having started as of last quarter
- Cap raise completed in Feb + small SPP at 32c
- Index rebalance complete, post GLL being removed
- Copulos recently going substantial
- Other Insto's either new to the register or existing holders able to reset / set positions on market at 32c
- Macro tailwinds favouring gas
