VML - Vital Metals

[over9k]

Now we see what the pullback is.

 

[greggles]

Done. Next stop 10c...lol.

View attachment 120757

Nice timing for the comp @greggles

I had a feeling VML would fly today based on last week's price action. It has certainly performed well today and I don't think 10c is out of the question by the end of the month if the positive sentiment continues.

 

[over9k]

Unless there's some news that I'm not aware of, that seems awfully optimistic just based on the chart?

 

[aus_trader]

I am terrible at predicting targets.

So just enjoying the ride with my small stake, with thanks going to banz for bringing this micro spec to our attention

 

[barney]

Just home from doing some real work to see the afternoon price action. I've never considered VML a day-trader's stock but the boys have worked it over a bit today. Profit taking into the Close will be interesting

We are actually into 9 year highs above 061. Technically blue-sky. See how it pans out for the rest of the week.

Definitely not baked beans on toast tonight

 

[over9k]

Let's see where it settles - its other spikes pulled back significantly before rebounding again. If it repeats the same pattern we can expect a pullback to 053ish.

 

[frugal.rock]

Let's see where it settles - its other spikes pulled back significantly before rebounding again. If it repeats the same pattern we can expect a pullback to 053ish.

Previous spikes weren't of breakout quality, there's no arguing today was a breakout that finished strongly.

Inside bar tomorrow?

Speeding ticket / please explain just in late.
Hopefully VML responds well before open tomorrow, so the momentum has a chance to continue from open.

 

[barney]

Previous spikes weren't of breakout quality, there's no arguing today was a breakout that finished strongly.

Inside bar tomorrow?

Today's Volume Profile is interesting:

Price Level	Volume
0.072	400,000
0.071	4,840,729
0.07	16,704,923
0.069	20,450,500
0.068	17,656,334
0.067	22,496,897
0.066	15,249,693
0.065	12,575,733
0.064	10,057,697
0.063	11,692,214
0.062	11,434,878
0.061	23,933,763
0.06	12,023,426
0.059	8,142,708
0.058	29,541,356
0.057	13,061,791
0.056	7,268,399
0.055	8,710,381
0.054	3,319,969
0.053	4,807,414
0.052	5,934,497

Daily VWAP of around 0.063

 

[barney]

Price Levels (Range) + Volume

Price Levels	Volume
070-072	21,945,652
067-069	60,603,731
064-066	37,883,123
061-063	47,060,855
058-060	49,707,490
052- 057	43,102,451

 

[barney]

Interestingly enough Rock (@frugal.rock )

They have stated the mandatory 2 days to respond to the Price Query (Thursday Open)

Obviously if there is "no new news" to announce to the market, they could possibly draft the letter quickly tonight before tomorrows Open.

Personally, I hope they take at least tomorrow to draft it. The last couple of announcements have been important and even though the news may not be "new", the Company should take the opportunity to promote how positive the recent announcements are to their future plans etc.

If they do happen to re-open tomorrow, I'd like to see the .065 level hold as support if re-tested.

There were about 100 million shares traded between .065 and .070

It would be nice if they turn out to be strong hands

 

[frugal.rock]

If they keep it halted tomorrow, I can see that T2 settlement would be locked in Wednesday, cash required in HFT accounts to pay for today's trades, (for those who have offset facilities... like me).

This scenario may play out with a stronger follow through, it can have the reverse effect though with a rush to get the cash back out to balance accounts by Friday. Grrr.
Thus my preference to keep the ball rolling tomorrow morning.

Have considered REE trade behaviour, and there's acouple of chart parallels, which I won't comment on.

It should be noted though that today is a record high volume for VML.

REE chart.

VML chart, same time frame.

 

[barney]

If they keep it halted tomorrow, I can see that T2 settlement would be locked in Wednesday, cash required in HFT accounts to pay for today's trades, (for those who have offset facilities... like me).

This scenario may play out with a stronger follow through, it can have the reverse effect though with a rush to get the cash back out to balance accounts by Friday. Grrr.

I'm with you now. Yeah, I haven't used any offset payments for a while. I remember it did put a fair bit of extra pressure on timing a few years back.

Only trade with what is actually in my account now days. I had a 6 figure loss with "borrowed" money very early in my trading exploits

That's not something I'd recommend anyone needs to experience Still here to tell the story though! lol.

Back to your original question about if it does open tomorrow/inside day?

You'd nearly back an initial tick or two higher on Open, but usually some rotation back into yesterdays Range.

Realistically, if it holds above yesterdays VWAP (0.063) that still OK.

If it holds above the low area of yesterdays last high Volume Range (0.065) that is better

Above the high of yesterdays last Volume Range where there was still meaningful Volume (0.069-0.070) Excellent.

Anything substantially higher than yesterdays high would be a surprise, but I wouldn't be complaining

 

[over9k]

That's one day though. One day does not a trend make.

Again, look at its previous pullbacks. The lack of news to send this thing flying has me concerned. So far, the whole thing is completely unexplained.

 

[barney]

The lack of news to send this thing flying has me concerned. So far, the whole thing is completely unexplained.

There has been 5 Price Sensitive Announcements in the last month which I'd say are now priced into the SP after yesterdays flurry.

I expect a pullback over the next 3 weeks. Might even test the previous Range highs at 055 ..... Still positive though.

I'm hoping to play the "end game" with this one so the weekly/monthly gyrations are part of the process.

 

[over9k]

Sure but normally when something runs 25% in a day, well, something sets that off. There's some kind of news, a smoking gun etc etc. There was nothing yesterday, or at least, nothing I'm aware of?

 

[over9k]

If they keep it halted tomorrow, I can see that T2 settlement would be locked in Wednesday, cash required in HFT accounts to pay for today's trades, (for those who have offset facilities... like me).

This scenario may play out with a stronger follow through, it can have the reverse effect though with a rush to get the cash back out to balance accounts by Friday. Grrr.
Thus my preference to keep the ball rolling tomorrow morning.

Have considered REE trade behaviour, and there's acouple of chart parallels, which I won't comment on.

It should be noted though that today is a record high volume for VML.

REE chart.

View attachment 120775

VML chart, same time frame.

View attachment 120776

Took the words right out of my mouth. I don't like unexplained movements. I got DEG right (roughly a four bagger) but got stung with REE. Even DEG's been on a melt for quite some time now:

It's even a "mine that has something good in the ground but hasn't started getting it out yet" like VML and yet has broken trend entirely.

I know they're not the same companies, but the parallels (and what happened with REE) have me a bit worried. I mean I still hold DEG, but you'd have to be kicking yourself if you bought anywhere in the 2nd peak really and we're right into that with VML now.

DEG's 2nd bounce was instant and on news, VML's seems to be, so far, unexplained.

 

[aus_trader]

Took the words right out of my mouth. I don't like unexplained movements. I got DEG right (roughly a four bagger) but got stung with REE. Even DEG's been on a melt for quite some time now:

View attachment 120797

It's even a "mine that has something good in the ground but hasn't started getting it out yet" like VML and yet has broken trend entirely.

I know they're not the same companies, but the parallels (and what happened with REE) have me a bit worried. I mean I still hold DEG, but you'd have to be kicking yourself if you bought anywhere in the 2nd peak really and we're right into that with VML now.

DEG's 2nd bounce was instant and on news, VML's seems to be, so far, unexplained.

Only thing is DEG is a $1bn+ company even with the recent pull back. VML is still a small cap minnow.

 

[over9k]

Mmm, even so, the parallels are concerning.

Not to say there isn't a punt to have still, but I'd love something more thorough from @barney if he felt so obliged.

 

[frugal.rock]

So, it's been trading for 40 minutes today.

Today's trading this far, has stuck nicely to the upper half of yesterday's ranging bar.

It's already traded over 25% of yesterday's volume.

All the very recent good news re-capped in the announcement.

 

[barney]

Mmm, even so, the parallels are concerning.

Not to say there isn't a punt to have still, but I'd love something more thorough from @barney if he felt so obliged.

No worries @over9k . I guess it all depends on each punters time frame.

I'm in for the long haul because I can see the SP reaching +10 cents over the next year or two, so my plan since late 2018 has been to accumulate.

A lot of the meat has now been chewed from that sandwich. (How's that for a metaphor!! lol? )

@frugal.rock has been trading VML (pretty well I believe ... Well done Rock!) so short term, he can probably point "traders" in a better direction.

I often give my commentary on the daily swings, but do that mainly to stay in tune with how things are ticking along, fundamentally vs technically.

(see below)

Back to your original question about if it does open tomorrow/inside day?

You'd nearly back an initial tick or two higher on Open, but usually some rotation back into yesterdays Range.

Realistically, if it holds above yesterdays VWAP (0.063) that still OK.

Almost following the "standard" pattern to script.

1) I assume short term Day Traders left from yesterday will have predominantly cashed in on the first rise today, so we have a lot of punters who are in at higher levels. Usually that could be a reason for concern and lead to 2) but 3) makes it interesting


2) Normally after yesterdays high range/high Volume you'd expect to see a trading range develop over the next 2-3 weeks and no surprise to see the SP possibly retrace right back to the last set of highs (maybe 055 ish)

3) However, the big IF/UNKNOWN with VML at this stage, is we are technically in Blue-Sky. That could change all the dynamics.

It could meander for a while, but the Traders know that blue-sky means they can push it higher easier.

If the Chart starts to show Accumulation (and that is often a subjective view), then that would be a positive signal that there will be another push higher at some point.

Personally, I don't think the Day Traders will let a blue-sky opportunity get too far from their view, but all the above is just my own opinion and should be eaten with salt, and maybe a little pepper, lol.