My little brain interesting comment since to the best of my knowledge a chimp has the intelligence of a 5 year old (according to a sign at Colchester zoo). If daddy has told you he now is making lots of money then clearly it must be true . I just loved his The Chubster has landed posts some months back and all his buys at 4p etc. I loved his deafening silence even more! If he has turned it around then good luck to him but it seems a tad like wishful thinking.
Really at a pivotal point here and had a good run out of the long term downtrend. I'm thinking there may be a short term pull back now the Gap has closed. Also RSI is looking a bit overbought and the bottom of the upward trend is around 1.1p
Resistance is 1.775 (was previous support) so if it closes above this then there could be a proper breakout and there are two juicy gaps way up to 11p to fill!
I'm currently out and waiting for either confirmation (breakout) or a retrace(lack of breakout) before I buy back in.
Hi chimp I thought that your dearest daddy aka the chubster fully loaded up (his own words) at circa 4p. Thereafter when they tanked he withdrew from these boards. Nice to know he had some money down the back of the sofa to load up some more at 1.1 ( although he/you have only mentioned it when the sp is at 1.6p). Please forgive me but I can smell something and it isnt a sweet smell!
"88 ENERGY (LSE:88E)Presumably this lot issued some grotty news. Last time we commented on LSE:88E:88 Energy, we gave 3.45p and 3.85p as upward targets, both of which were achieved. Then it fell off a cliff!Thankfully, there's something a bit ..."
" 88 ENERGY (LSE:88E) Presumably this lot issued some grotty news. Last time we commented, (link here), we gave 3.45 & 3,85p as upward targets, both of which were achieved. Then it fell off a cliff! Thankfully, there's something a bit ..."
When I am looking for a stock to invest in and also trade one of my criteria is that I look for a stock with the potential for game changing news ( result = speculation and volatility) and enough cash not to go bust anytime soon. My takeaway from the presentation is that 88e still fits that criteria with sufficient cash to fund it through quite a series of speculative events.. So I will use the charts to buy on dips and sell into rallies and hope that next year brings better tidings in terms of real results as opposed to just speculation. There remains all to play for on this stock with money to be made from patient disciplined investing.
Merely a technical recover Tuesday and today after the too sudden and too steep selloff. But I am very happy to see the price re-established above 1.10p - our initial retracement target.
- LTHs who didn't sell last week are safe to hold as long as 1p is maintained
- share placing probably around 1p, so that this level could hold for a while
- new bullish alert only indicated IF the strong 1.40p line is climbed.
Although it is being tested repeatedly, 0.90p still keeps holding.
Happy to see for all LTHs!
Nevertheless, with the main markets set for the rainy season in October, 88energy could see the mentioned 0.78p target and even 0.50p.
But this 0.78p will only hold if the majority of PIs will hold on to their stakes they've bought super low at 0.50p three years ago.
If you read different chats you can see that 80% are willing to hold - even if it reaches their entry price.
Please excuse the misspelling, I meant to write "bed wetter".
As you have topped up yesterday - and plan to keep topping up - allow me to publish a few price targets to whom it may concern:
- 1.04p now
- today sees continued pressure on the 1p support line and it is about to be breached
- if 1p is breached, then orderly retrace to 0.90p and 0.78p
- total bottom as from todays view would be 0.50p, but I hope that somewhat 0.80ish holds
- new bullish signal only possible IF the massive 1.40-1.50p walls are climbed.
You keep referring to that ""simple loss" you've made...
Allow me to tell you that other people, like me for instance, would have dealt with a substantial amount of money here. Maybe this helps to set the right perspective, if you keep trading with smallish 5k or 7k Pounds.
I for one could have never risked such a steep loss that you have seen here - ouch! Its not just your 45% price crash down to 1.10p yesterday. Just a week earlier you witnessed a 30% loss down from 2.45p. Puhhh!
2.45p or 1.10p? I for one am very very happy that my chart alert triggered and sold the entire lot. And I only sold at 2.45p because of the chart - not because of some company news.
Ahhh, I see, so here is our misunderstanding, badwetter! Because the truth is exactly the opposite:
"A core principle of technical analysis is that a market's price reflects all relevant information impacting that market. A technical analyst looks at the commodity's trading pattern rather than external drivers such as economic, fundamental and news events."
It's because 90% of the relevant news are already known to company directors as well as company insiders and their multiplicators.
About the current negative RNS: Many weeks ago company directors knew that this year testing will be very limited - thus difficult or impossible- because of the winter season. Only because they wanted to avoid panic selling in August they continued to give "okay" news over the past few weeks - until yesterday.
Oothatscheap, a few weeks before they open up the well we will get a share prediction of a bullish trend bla bla bla but its nothing to do with news on the horizon though its because the chart said so hahahaha.
Charts don't know the news before it arrives, like sageman said, if it'd of risen to 5p you'd still get R29 saying I told you it was going to rise, believe me I'm not bitter about the drop as I wasn't over exposed, I was prepared for an OK profit nothing major had it been good news, and nothing financially bad with negative news. I appreciate you like to read charts and be a good Samaritan telling the world via bb's about how you know the outcome of news without seeing it. But its just hindsight that's all Buddy it was going nowhere near those levels until the outcome of the news yesterday.
My view on charts is that news will always drive the SP especially on AIM. Thus news today could as easily seen 5p as 1p. Where charts help is when there is no news, or once the news has been released. We now have a prolonged period where there will be very little news and thus the charts will be key. I am sooo glad that I sold a decent tranche at over 2.8p. I am in no hurry to reinvest and will use the charts to determine my future actions , as will others. Thank you RR29 your figures are much appreciated.
Its a good job you're a pro eh, you stalk the bb for months saying where the price is heading, then buy in 30% higher than where the sp was a few days before only to sell right away with no profit, wow what a legend haha, I'll be averaging down over the coming months no rush you're right and it'll be easy money nearer the time for opening up the well for round 2.
- In my opinion its best to wait for the week closing hour price to grasp the full picture.
- Yes, 88energy will need a lot of money in the future. No, I am still not interested in company news whatsoever!
- The only thing to observe IMHO: The Sp must now stay above 1.10p at all cost!!!
- If this last support is breached, then orderly retrace to a first bottom around 0.90p and probably 0.78p.
- Those who didn't bother to sell at 2.40p recently nor at 1.80p are safe to hold as long as 1.10p is maintained.
...as you can probably imagine, me being a full time investor, I am using this site to keep in touch with some of my mates that are doing the same work over in FR as well as in GER, while I am based in CH.
It works better than any mail system - and everyone can decide when he or she wants to take on the chart alert that is published.
"...I'm not overexposed with an average of 1.83p and looking to average down further ready for the rise pre flow rates after winter it just requires a little patience that's all." badwetter
Badwetter, I would have never stayed invested if someone gave me. Up to you. Just one more hint while you have thrown more money into the oven today:
There is a chance to bottom out around 0.90p and lower. So there is no hurry to average down : ))
I'd be very surprised if this well doesn't flow come April then you'll see a decent rise here, I didn't plough enough in here to be fearful of a bad result its all or nothing for me, I'm happy to hold here until results.
I'm not overexposed with an average of 1.83p and looking to average down further ready for the rise pre flow rates after winter it just requires a little patience that's all, I take no notice before news arrives to the likes of your hindsight predictions, the fact that it only moved to these levels like you were saying because of negative news cemented what I was telling you, speculative oil stocks rocket and plummet via rns's, not mindless chart predictions that never came until the news was dropped.
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