Just went back to go over Ur great analysis Seagull and saw that I never pushed the post button on the reply post I’d made up this morning.
My sincerest apologies.
It was a bit of a longy too so I’ll try and remember most of it.
Firstly what a legend u r Seagull for doing this G1A analysis, even more so that u don’t hold it. So a huge thank you to U for doing this for the G1A crew.
Love Ur straight up analysis and the realities of gaps but every day we get trading like today the less it looks like this sp will close that gap. However I’ve seen how accurate u have been with our Li jobby so I’m very hesitant to be too positive on that gap holding just yet.
But today’s trade was solid from the aspect of the buyer keeping the soak of the overhang of the last significant rise to the top of the previous candle.
One gets the impression the controlling mm is testing the sellers resolve and seeing just how much ammo they have left. Volume down again on the last cycles average volume post the big gap up candle might indicate the ammos slowly depleting.
Sell side is loaded up compared to the buy side, possibly trying to force weak hands at this level.
Thing is the buyer has made it bleeding obvious they want a big chunk of the company and if they come back in we may see some attendees from the roadshow get the fomo’s and up we’ll go again. But that’s just crystal balling with rose coloureds on.
As mentioned in a recent post Seagull, if they come up with another impressive PFS update which implies even better value in the project then with a glass half full attitude those broker targets will be well and truly underdone and they may be scrambling to grab some in amongst traders, just what’s the controlling mm may want imo.
Thanks again Seagull
Gr
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