Empire Metals - EEE

Hey TF, no apology needed, life has a habit of pressing the fast forward button.

I have been adding here on weakness, bought some more at 7.5p and have some powder dry if it dips lower (6.6p or thereabouts for a max bottom?) will look forward to your thoughts and chart update.

Ade

Well, quite the time we are having here.

This morning I added, what I feel may be the lowest / final traunch of shares here, at 6.78p and my average is under 9p so I am now comfortable that I have the right amount of shares at a price I am happy with.

From a technical perspective (apologies, no images as I have no online hosting - can anyone recommend? ) but the price action today, using the daily chart, If you draw the fib from:
Low point for Fib 1.625p (29th Jun 2023)
High point for Fib 13.4p (09th Jan 2024)

Today we hit the 200 day SMA moving average and also critically, we had confluence with the 61.8% Fib retracement (6.53p) from those two points above.

I now expect it to move upwards in anticipation of RC drilling news.


We may see some hovering around this point, but I think we have had our retrace.

Which I hope is true as I lost my job early March and I am just starting to live on my previously amassed emergency fund, whilst I await the liquidator reference number to begin my claim for Statutory redundancy. !

Onwards and upwards.

I hope all are keeping well and looking forward to a nice Easter break

Hi Ademcg,
Yes, i think i agree you. This drop was not in the script at all!
I too think the news is out today and now its a case of stay the course or get out.
I have a small buy today at 6.60p and think the bottom is close maybe and maybe around here or just below 6p.

I may add one more lot if we see sub 6p. Otherwise i will only buy now on momentum change....and on the way back up.

Will try and take a look a look at the chart during this long weekend all being well.
Hope your back working again soon Ademcg. Sometimes these things can work for the better!

Enjoy the time out all...and have fab Easter break.
atb,
trendfriend

Decent rally and rebound taking place at Empire!

Hey TF, yes, it looks like the region of 6.2p to 6.5p held as the bottom for the retrace.
Glad I took more at 6.7p, not quite the absolute low, but low enough.

It will be interesting to see if a TR1 RNS is announced as a lot of the shares in new investors (the weak hands) have been shaken out and someone has ben mopping them up.

Do you think we have seen a turn of the downward trend TF?

Best of luck

Ade

This is looking good here again imvho...
Looks like the start of a new bull phase to me...with a higher low and a few technical levels cleared!

Lets see will try and post a chart tonight...he says again!
Well done for buying the dips AdeMcg!

atb, wdik, dyor,
trendfriend