How Vast Resources can move into 'game changing' territory
Our chartist sees if this complicated share has what it takes to revisit historical highs.
29th October 2019 09:24
by Alistair Strang from Trends and Targets
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Our chartist sees if this complicated share has what it takes to revisit historical highs.
Vast Resources
Our report yesterday against Eurasia Mining (LSE:EUA) provoked a "bloody 'ell" moment in the office. We didn't expect an 67%-plus rise the next day.
Importantly, the price has not yet reached 1.94p, the best achieved being 1.92p and, thus, the initial target has not been exceeded (yet). If it goes nuts again, we shall revisit the share. As for Vast Resources (LSE:VAST), are we expecting similar behaviour?
Presently at 0.3p, the share needs trade above 0.39p to give sufficient ammunition to a calculation which projects a useless movement to 0.46p.
All kidding aside, the really important stuff starts to happen if 0.46p bettered as our secondary computes at 0.59p.
Visually, this projects the share into "game changing" territory as realistically 0.93p looks capable of presenting a longer term (or the next day!) attraction.
It's certainly a complicated share, but worth remembering you are playing with fire. The chart suggests since September, something has been happening to shatter the calm of 2019's lack of price movement, so perhaps it's worth keeping an eye open in the week ahead.
The price would require slippage below 0.2p to justify hysterics as we cannot calculate any sort of bottom number. Will it ever recover to its historical highs of 30p? We suspect only, if it lives up to its name and discovers some Vast Resources...
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang, or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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