Xtract Resources Share Discussion Threads

[papillon] 08/4/2022 11:25

"Professional" chartists, unlike me TD, appear to believe that resistance and support levels are the most reliable chart indicators. As an amateur I agree.
I believe that the circa 6p support level never held at the end of February because of investors nervousness over Russian intentions towards Ukraine and the actual invasion starting led to the share price dropping towards the next support level @ circa 5p during early March.
TheSaint5 posted yesterday that he uses waves (presumably Elliot Waves) to attempt to predict future share price movements. Well another potential Elliot Wave cycle started this month from around 5.95p and it looks like the 1st Wave completed at around 6.7p. We are now on the 2nd (down) Wave. How low that will go I've no idea, but a drop below 6p would cancel that cycle.
The only hard and fast rule for Elliott Waves is that the 3rd Wave (up) is never the shortest. Often the 3rd Wave is around 1.5 times the length of the 1st so that gives around 1.1p as a possible length of the 3rd, but where it will start from is anyone's guess. If it starts from 6.5p that would give a possible 3rd Wave target of 7.6p.
As always NEWS drives share prices! 🤣

[papillon] 08/4/2022 10:50

👍 TD.

[the diddymen] 08/4/2022 06:12

Paps given the adverse winds XTR has performed well over the Ukraine period.

[papillon] 07/4/2022 23:31

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Be nice if we see a repeat of the percentage rise of early February. There is a bullish IH&S pattern that has formed over the last 6 weeks. That could push the share price up to the January 2021 high. Might need more news before that happens. bwtfdik?

[papillon] 07/4/2022 19:59

Hi TheSaint5. I do look for Elliott Wave Cycles, TheSaint5. There was a small, complete, 5 wave EWT in March, for instance.
However I'm not a share trader. Studying charts is just a hobby for me. I only have 3 shares, XTR, MILA & GPM and am not thinking of adding to them anytime soon. XTR is by far my largest investment. I'm only a small time investor. Very small time.

[thesaint5] 07/4/2022 19:29

Hi Papillon, I don't use moving averages much as you can see price action can drop below or bounce above quite easily, although they are a handy day trading tool.

My method is calculating waves, for me once this passes 7.5p the target I mentioned should be nailed on, in a similar way to what I said about CHAR a short while back here and I did so with MOS prior to it's huge rise from below ~0.3p-0.7p ..



Nothing is guaranteed though of course, news can alter course and it may not break that crucial target, the odds though would favour those long IMO.

[papillon] 07/4/2022 16:49

👍 Mostro.

[mostro] 07/4/2022 16:42

Thanks papillon, great work!

[papillon] 07/4/2022 13:54

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I did this chart last night, TheSaint5, but never posted it. It shows that there was a bullish Golden Cross on the XTR chart in the summer of 2020 and the 50 day EMA has never gone below the 200 day EMA since then. It's gone close a couple of times, the last time in the summer of 2021, but the 200 day EMA has acted as support. Why? Who knows?
Meanwhile the Heikin-Ashi candlesticks suggest we are at the start of a short term uptrend similar to that at the end of January, start of February, when the share price rose from 5p to over 7p, in around 2 weeks.

[thesaint5] 07/4/2022 13:00

Breaks 7.5p that upper target is nailed on IMO of course.

Good to see Count here, we are sharing a few investments of late, hopefully all winners!

[papillon] 07/4/2022 12:40

Yes, TCofMC, if the good news keeps coming (and the big sells seem to have dried up) I can envisage the January 2021 high being breached. Thereafter it's blue sky on the chart which will attract more buyers.
It all depends on the RNS's and we're 99% certain they will contain excellent news.

[arcadian] 07/4/2022 12:25

Not unreasonable as we continue to prove up the resource and continue to model the offering. Assuming we reach 2 mt and a value of 20$ billion the question will then be what will be the calculation of NPV. During this time the shares will become worth more. Colin is still central to everything but the backdrop of AA blooming might make things a bit more conducive. A few pence on the share price now is welcome but incidental to the main drama the outcome of which should make several multiples of the present share price and re that my hopes are even higher than Count`s although he is more likely to be right than me.

[the count of monte_cristo] 07/4/2022 12:15

TheSaint5, thinking outside of the box. Very nice.

[thesaint5] 07/4/2022 12:04

IMHO we are breaking out with a target between 11-14p perhaps higher near term.

[arcadian] 07/4/2022 09:46

Good news about Ascot but I wish they would update the drilling map. I don`t seem to see the 22 drill sites.

[zero matrix] 07/4/2022 08:15

I've seen a few similar situations.

[jwilde] 07/4/2022 07:55

the 2 trades marked as sales at 8:34am for 241,200 and the second a little less are just my bed and isa sale and repurchase trades, not actual sales. Am still awaiting a further 61,000 to complete later today. GLA

[papillon] 06/4/2022 22:45

After a near miss with PUR recently, west4, I'm making sure I'm happy with the share price chart before buying in future. Luckily I'm more than happy with the XTR & MILA charts.
All the best with your investments.


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The chart got it right on PUR. There was a BEARISH DEATH CROSS formed (the 50 day EMA dropping below an already falling 200 day EMA) on the chart back in March 2021. The chart has stayed bearish ever since. Even back in the summer of 2021 following the BoD share purchases the share price never closed above the 200 day EMA. I must add that I got lucky when I sold my small holding in PUR not long before the recent bad news, on further funding if the company was to survive, was announced. I wanted to buy more shares in XTR so that meant selling my PUR shares. However if I'd have taken notice of the PUR chart I'd have never bought them, early this year, in the first place! Luckily I reckon I just about broke even after commission costs.

[west4] 06/4/2022 18:16

Agreed with these points Pap. Good luck with your investments.

[papillon] 06/4/2022 16:53

The offer price was at a 41.6% premium to the previous day's closing price.

[papillon] 06/4/2022 16:47

No, west4. I'm waiting for Racecourse/Bushranger to be sold. If you look back at the previous exploration company Colin Bird sold, KIW, back in 2009, the bid price, when announced, was at a 40% premium to the previous day's closing price for the KIW share price Granted it's a bit different this time around because CB sold KIW lock stock & barrel whereas with XTR it's likely just the Australian licences will be sold (all of them?), whilst the African assets will be retained. However I do believe the bid (whenever it comes and from whom) will be at a significant premium to the previous day's closing price. That is par for the course for takeovers.
In the short term the XTR share price needs to get above the January 2021 high. It's a fact that many investors wait for the previous high to be breached before buying. Of course if you go back more than 5 years the XTR share price was much, much, higher than 8-9p, but XTR was a different animal back then. I only remember XTR from before 2012 when it was an unsuccessful O&G hopeful. I was surprised to learn last year that it still existed.

[west4] 06/4/2022 16:21

Pap. Do you have a target share price to sell and take the profit?

[papillon] 06/4/2022 14:51

Chart patterns are not as reliable for small caps, like XTR, compared with large caps, but there is a potential bullish IH&S forming on the XTR chart. The potential pattern started in February. Likely target 7.5p+ if the pattern forms (needs to close above 6.5p). I'm certain this post will draw some comments from certain quarters, but they are wasting their precious time if they respond because I have them on filter.
All that interests me is that I'm currently in profit on both XTR & MILA and there is the prospect of more profit to come based on their fundamentals (confirmed by their charts)