I'm also of the belief that TA is not going to work on this stock. So far it has been extremely well organised, and when we get assays is what will move the stock, then our own drilling program after that.
The company could have shown a lot more of the drill core than they did in the couple of photos they put out. IMO this was deliberate as nothing more than some glimpses of the photos put most of us at a disadvantage compared to those that have had a really good look.
However the buying has been relentless, that by itself tells me a lot about the stock. Those that have seen the core up close like what they see, but they also have traders to deal with, so you can't just keep buying the stock. Occasionally you have to sell some bought to put doubt into some people's mind (like the selling yesterday afternoon), but if your selling gets snapped up, you can't keep doing it as you loose to many shares if trying to accumulate.
So there is a balance happening, but the price rising so fast shows that IMO this is a good thing for excellent first assays. Personally I'm really looking forward to them as I'm expecting some really high grade intercepts, then our own drilling proving up tonnage.
These first 2 cores being 500m apart but showing 127m of pegmatite, that states in the fine print spodumene, with accompanying lepidolite, basically tells us that in this case FA, what we have will drive the price, not TA.
If the results came to mostly under 1% then the price will crash. If the results show good average grade of above 1.5% and some wide intervals of 3% or more, the price will more than double overnight (as in before compared to after the announcement).
If this were to go to 11c before the assays are out, like say on Monday, I for one will be loading up, as my expectation is for 25-30c upon the first assays, and 50-60c upon the first drill results if they are consistent with high grades of spodumene.
IMO it is the people within Apollo Phoenix Resources who are really driving this, in a type of reverse takeover, and I would not in the least be surprised to see them appear as substantial holders anytime soon, nor any of their separate directors turning up on our substantial holders list.
The photo in the latest announcement gives a lot away IMO, with "Apollo Phoenix Resources Director Mr. Dehong Yu" and " Mr. Gary Gu Business Development Manager Apollo Phoenix Resources" both being in the photo, with Chris Daws from Estrella.
IMO this stock is going places and "they" whoever "they" are; are trying to mop up every old share they can from the old holders of Estrella that were sitting on a loser for years.
They obviously have a good Chinese connection for any sales of product and as likely for any raising of funds necessary to take this company from explorer to miner, or more.
I'm very impressed with what is happening here, and how quiet they have managed to keep it, despite relentless buying.
This is simple fundamentals in action, and nothing to do with any Technical Analysis IMO.
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