View attachment 3262517Update to weekly.
MACD closer to crossing historically very good indicator of longer term move.
Coinciding with stochastic cross and rising.
RSI cross and rising.
Volume is bullish and increasing.
From the longer term viewpoint here on PSC it looks very promising.
The daily is also bullish but potentially looking to top out. If the weekly was turning i'd be tempting to sell a few and accumulate lower but the weekly and monthly too bullish to be playing the daily cycles now for me.
Look at the volume difference between july 2020 to 2021 compared to july 2019-2020. Was averaging 750k-1m volume a week now doing 5-7m in a week. This is a nice churn of volume and turnover of the registry and should set a nice platform.
There's a small group of like minded long term investors which I've been fortunate enough to have been added to the group. It's around a dozen of us, all have been accumulating and have long term mindsets looking for 500% ROI. We've been positioning pretty strongly from 13-17c myself was a little earlier having went in at 10.5c. I guess my point is quite a few shares have found their way into better hands for long term appreciation.
Also note the broker data below showing that previously it was retail and last couple weeks has been more of the pro's. Patersons was a major selling previous 3-4 weeks and is slowing down - i think perhaps running out of supply. Very low free float available so moves can be pretty quick with some proper interest.
View attachment 3262625Noting that canaccord's options if they want to get paid need a VWAP above 22c-27c for the various tiers. I imagine they will start pushing this up close to EOFY or early next year. 28c is the golden 100M MC which is also a trigger for many institutional investors and funds.
100m is still only 15% of NPV can easily go to 300-400m with FID which by my count will be Q3 or Q4 this year IMHO. Near-term production and in production and we're talking 1.2mtpa and EPS can yield a S/P of around $1.8. That's 1000% based on a PE ratio 15 on only our stage 1 production.
Consider PLS and GXY are valued at 3.8bn and 2bn without a PE ratio to speak of. So you can make a case for a PE ratio of 20/30/40 being conservative.
Peoples general view is that their missing something because how can it be so undervalued. It can all seem like it doesn't make sense until the S/P flicks up 100-200% and suddenly you have clarity of that conviction.
My last 4 conviction picks have been 1000% ROI in 12-18 month periods. I believe PSC can be my next.
Time will tell.
SF2TH
(20min delay)