PSC VCPI'm expecting an aggresive breakout to the upside out of this Volatility Contraction Pattern.
PSC trade ideas
PSCBeautiful bull flag on Prospect after alaredy beaking out end of 2021 will be looking to add at lows of flag
PSC.ASX Pullback to 200 and change trendAfter a long downtrend it looks like PSC has had some breakout on the fundamental side (lord knows what, I don't have time for that stuff) and the price has popped. Given this massive spinning top candle I think the price is going to consolidate here for a bit and form a pennant or a congestion zone as the price returns to the 200 MA and the peak line of the double bottom that formed. After that i would assume it to go up after that.
I'm not going to set an upper target for this. I'm first looking for a retracement of the prices action to the 200 MA at which point ill be looking to buy. A generous stop set to 0.150 which is a gap opening. Beyond that I'll be looking to trend trade this once some knuckles for the trend placement appear
PSC - 2019In micro-caps I've found that the volume is too little for anything meaningful to come of some TA, so instead I've gone down the fundamental approach mapping out some key moments in this developing mine and what we would see if progress is coming.
I've mapped out the last remaining options in late 2018 and 19. I don't see any price action great enough to make the next two options at 5c and 10c worth exercising,(unless a pump in lithium prices and funding secured early) but with holidays coming up slowing progress down I don't see it happening. I see this as a good thing for a current holder who won't see further dilution from past deals.
With the current falling wedge , currently closing around the expected time of a report from funding due around the end of April (from the recent investor presentation) the price will give a clear picture of what results are to be expected.
1) Funding Secured, price slowly starts to grow as news will spread shown by the green arrow after which I would expect a slight sell-off from the news followed by steady growth varying on macro factors.
2) Funding is not successful, insiders see the mine failing, selling begins from inside. (First red arrow) Followed by no news by the expected end of April further decline followed by the announcement where I see a drop to below a cent. (Un-funded, underdevelop, In an uncertain political environment)
If the support around ~.025 is broken I expect some price action around ~0.02
Besides all this, lithium prices have the strongest Beta especially with these upcoming mines relying heavily on its prices to be able to start the mine profitable and help with funding deals. I would've liked to overlay a lithium price chart but couldn't find any. So, all in all, I feel the success lies around the short to medium lithium prices.
Point to note - Having strong ties with the Zim government would suggest the connections the directors have been far-reaching, this should mean a greater chance in finding funding that is willing to take a risk.
Also I'm guessing the later options are the directors as the timing of the end of funding is just before they expire.
PSC - Nice contraction and accumulation This stock looks to have absorbed the recent gains and is under accumulation again. Looking for a break of 5.6c.
