Touchstone Exploration Share Discussion Threads

[wanobi] 27/1/2023 08:45

Good morning all, Cheers Wan :-)

fwiw, in my relatively limited experience at this game,,,

buffy, FA first, TA second for sure,, and the best chart pattern in the world can be devastatingly wrong when a very bad or very good rns is released :-),,, but these things do make sense in terms of sentiment, buying and selling patterns and so on,,, all in the past I grant you,,, but, if you consider the description of the falling wedge and then look at the chart it makes sense as to what has been happening,,,,

as for the future, if ones FA says Paul can get the wall of cash sorted and move on to drill many more holes in an area that should contain the prize,,, with no further share dilution, then yes, it makes sense that the chart will break out to the upside eventually :-)

if however, ones FA says he cannot pull it off, there will be rounds and rounds of fund raising coming and the people will keep selling,, then it makes more sense for the chart to break to the downside,,,

the chart is telling us that sentiment amongst buyers & sellers is not so far off a turning point,,, ie there's currently not much upside for buyers or downside for sellers and the wedge gets tighter and tighter,,,

what will trigger the buyers to come in, or the sellers to come in will be some news..... :-) :-)

that's my take on the chart anyhow fwiw :-) :-)

GLA
Cheers
Wan :-)

[che7win] 27/1/2023 08:01

Thanks homebrewruss.

Buffy, I disagree with your last comment and agree with wanobi here. I said a few times over the past month that we need to break 85p. If that had happened, there would have been a break of the downtrend resistance level.
If you ignore the chart, then you don’t see what resistance levels are and what others in the market are thinking.

This is an opportunity to buy if you think 80p level will be broken soon….only a matter of time imho.

Why else would we be falling when oil price is rising and our gas price is fixed if it wasn’t for the chart? I think the chart has halted the rise for now.

By the way, with US gas prices at a 7 year low, ironically we should now be congratulating Paul Baay on the fixed price…..(said tongue in cheek)

hTtps://markets.businessinsider.com/news/commodities/natural-gas-price-today-demand-exports-texas-lng-russia-ukraine-2023-1

[buffythebuffoon] 27/1/2023 07:53

So basically, despite all the nonsense spouted about Rorschach ink marks, sorry, chart patterns, it’s use as a predictor is functionally useless (certainly in small, relatively low volume company shares).

Do you agree wanobi?

Buffy

[wanobi] 26/1/2023 13:20

should say I fully expect it to break out to the upside as the story progresses, hence I'm not going to sell any,,,, just a question of how long before positive news causes that breakout :-) GLA LTH's Cheers Wan :-)

[wanobi] 26/1/2023 13:17

it's just a falling wedge chart formation hbr,,, I've just drawn it and not related it to anything fundamental,,, hopefully it'll break out anytime now and not go a lot further :-),,, I still hold a lot of TXP, so nothing would be better for me than to see this not play out to the full extend of the wedge,,,, but, for those who wish to add at lower prices, you never know :-) Cheers Wan :-)

[homebrewruss] 26/1/2023 13:08

Wan, what news do you think would take it below 50?
Is there also arguably an INVH&S on the chart?

[wanobi] 26/1/2023 13:02

FWIW - The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam...


free stock charts from uk.advfn.com


we shall see, GLA :-)

Cheers
Wan :-)

[miltondad] 26/1/2023 11:48

A9, there have and will always be delays, but this will have Casc in production some time in the next 3-4 months and generating 30-40m cash from that. A 10 fold increase over current revenues. Will the market play with the price over the next 3-4 months and after production, hell yes!

[a9neu] 26/1/2023 11:27

The rat trap... lower you entry price by wasting more money.!

[ballymoss18] 26/1/2023 11:19

The earnings and reserves will speak for themselves.A9If you were a numbers guy I think you would be buying more at this price.

[a9neu] 26/1/2023 10:15

Announcements are always late, good news seems to have a limited positive shift for no more than a few days. The graph speaks for itself.

[king suarez] 26/1/2023 09:41

Have you 'done the math' on the likely revenue, profits, cash flows for production by Jan 24?

[a9neu] 26/1/2023 09:38

As a nerdy math guy i'm all focused on a downward trend here. Forecast based on current performance is around 50 by jan 24. I'm in at 118 and adjusted my stop loss twice in 2022. Does anyone see anything positive in this?

[homebrewruss] 26/1/2023 09:20

Che7win, see post 34193, not competing and TRIN have only bid on one block.

[che7win] 26/1/2023 08:11

Did they go for competing licenses or different licences in the latest bid round?

[sleveen] 26/1/2023 07:27

TRIN news today:

"The proposed Jacobin well will be the deepest (9800 ft TVDSS TD) onshore oil well in Palo Seco region in over a decade. Located in the WD-5/6 Lease Operatorship area, the well will test a structural prospect defined on 3D seismic, with target reservoirs of Lower Cruse Miocene-age turbidite sandstones. The well will also intersect multiple shallower stacked reservoir targets."


Does that have any potential read over for TXP given it's the WD5/6 lease given we have WD4 & WD8?

[dunderheed] 25/1/2023 08:24

They don't even know sbout the known unknowns sleven, imho.

[sleveen] 25/1/2023 08:14

Those pesky unknown unknowns.

[dunderheed] 25/1/2023 00:17

I doubt it the "management" don't know what they don't know, lol.

[pro_s2009] 24/1/2023 16:32

Indeed, we should be getting spud notice for Royston ST-1 on or before Monday next week.

[jungmana] 24/1/2023 12:00

Worth a watch for new investors;https://youtu.be/DFUk3GomQw8

[red rook] 24/1/2023 08:32

... yes, has seen a good rise off the lows
... a little breather now, and consolidation of the price, is healthy
... let the short term traders off
... and ready itself for the next rise into the upcoming drill phase, and completion of the cascadura works