Good afternoon @ectoplasm & fellow JRV'ers I liked your post. An...

Good afternoon @ectoplasm & fellow JRV'ers
I liked your post. An honest and refreshing look at basic technical analysis!
SENTIMENT IS A BUY/HOLD as you'll come to know more by reading my take on the action

I have also attached my Daily chart below however this chart here was made yesterday shared on Daytrader thread can be found here as I also had commentary: https://hotcopper.com.au/threads/morning-trading-may-8.7371903/page-66?post_id=67654302


Key Points I am noticing:
Ascending Triangle pattern playing out (a bullish pattern)

Today's candle (albeit only midday) indicates a "DOJI". A doji at key levels of support OR resistance indicate reversal action
Yesterday saw good volume and green volume indicating BUYERS taking out supply from SELLERS
Speaking of resistance or support, 11.5c has acted as a resistance level on 4 occasions, with yesterdays candle being the first day closing AT 11.5c.
The technical analysis school of thought is "the longer a certain level takes to break out from, it eventually RETESTS it and acts as a major support zone"
Why would JRV breakout? Besides the recent trend it's making, a CRITICAL COMPONTENT that needs addressing is the current Shortseller Ratio

In regards to the Shortsellers, I did share more on the Daytrader Thread. However to prevent repeating what I posted, I will screenshot my commentary on this "phenomena"



I would now like to address the Potential Buy The Rumour Sell The News catalyst as outlined by JRV Management yesterday. On Thursday (Australian) is when JRV does their presentation in California! Therefore I suspect considering it's a dual exchange listed stock, there's a high probability they release news over in U.S Markets as well as Australians seeing an update on Thursday. This would indicate the probable reason why TODAY there is hardly any volume or real selling. The 11.5c former resistance has nowhere near the levels of supply seen in 4 other previous circumstances.

This bodes incredibly well for the short term BULLS who are seeing this share price moving up as a result of way too many shares being SHORT. Infact it's now over 10% of the SOI going short, that is A LOT despite it "only" being 10% of the shares on issue. We are likely to be seeing more margin calls as brokers need their loans back. Maybe I have just looked too much into it... even so, I have been wrong before


Lastly, I would like to end with the HOURLY chart a smaller time frame for those who like myself, are Traders for the most part. I should highlight I am GENERALLY a short biased trader seeing the bad in all the junk BUT I cannot ignore trends, patterns and just as importantly PRICE action!

Below we can see on the Hourly Chart that ALL EMA's are pointing up, with prices reclaiming 150 & 200 EMA's which is what you longer term "investors" are actually using. With supply thinning, prices holding at former highs with the potential of it becoming new support, AS A SHORT BIASED TRADER I WOULD BE EXTREMELY CAUTIOUS AND SCARED!!

Price Targets could be 14c & higher based purely on HOURLY

Stuff it...whilst here I may also add the MONTHLY for the longer termers.... Max upside levels = 25.5c !! If it gets there, it gets there. All I am doing is forecasting the probabilities provided the news and other catalysts continue as so. Prices are at 2017 levels where this was a former SuperNova stock with insane ROI.... just under 1,300% in a few months NEVER disrespect a chart NO MATTER HOW JUNK it may be!! Former runners always have their moment to showcase their personality...they rarely change! On that note, GOOD LUCK to all holders....Probably less than 20% of people ever read such long and detailed posts.... except my twitter followers whom many are Institutions, Firms, Banks, Investment Houses & MANY ASX Listed Companies spanning several billion in total market capitalisation. Must be doing something OK...

P.S apologies if this seems self serving, self praising. I get very little love from comrades, and this is part of my way of believing in myself, my system and mostly my abilities in the skills I have acquired over many years (since 2017) in saying that I still terribly suck at this! HAHA gotta be able to laugh at yourself & have fun!