detailed analysis-knocking at the door

i think it is worth looking a little deeper at this one.
if things play out the way i am expecting, there is an absolutely enormous technical opportunity playing out here:

first the long term weekly chart:


pretty obvious that all breakouts have respected the same longterm descending resistance line. the beauty of this line, however, is that it is rapidly approaching a null and void position. the close up shows it to be at 2.4c. the question has to be asked, what sort of news will it take to raise the SP another 2 pips? not much.

in which case, what becomes the new resistance?

well, firstly, there is a massive descending wedge target there, with an upside target of 17c. this gives an indication of how high you could expect this now diluted shareprice to appreciate to (on the back of fundamentals, of course) over a period of time.

so what about medium term?

this daily gives an indication of what a breakout might get pushed to. the repeating range has a target of 4.5c

again, not a huge ask of a company with such a small market cap and boutique broker backing.

in a nutshell, any acquisition/drilling/project advancement/JV/funding arrangement is likely to see this retesting old support levels before settling in for a whole new ride.

bearing in mind that most of the soph shareholders are still well in the red, anything sub 3c has to be considered an absolute VIP entry ticket

i am now set and waiting