RE:Great close today! Hey Upside. Love the enthusiasm but a couple of pointers. First, the float here is actually about 202 million, fully diluted, not the 140 million shown on this site (SH). Second there is some free trading paper out there. Third, many if not most (excluding those buying in the past two weeks) are well in to the green, so if you observe the wall at .30 cents that’s people cashing in on profits. Lastly, this is about as much of a run as you should expect short term until a gallon of diesel is actually produced, or until a P.O. is obtained. This recent drive up to 30 cents has baked in it any other increases we should have expected from further positive news, other than the aforementioned (a P.O). Mainly because no news they would release would come as a surprise, we already know what phase what stage what dates etc.....all the important milestones are at.
Did you see the wall at 30 cents? People are happy with that as a short reward. I’m not selling either. But I expect a pullback like we saw last time has climbed his high. There is a gap (see chart) and it needs to be filled back down to no less than the 23 cent mark where it shows real support. Every penny it’s moved up so far has been on low volume and a few thousand shares taking it from 26 all he way to 30. That’s not a sustainable rise friends.
Now don’t attack me for saying as much. But I don’t agree this will see 40 cents soon. As a matter of fact it’s slighlty overpriced and should fill the gap down and then and only then back up pat 30 cents with millions of shares trading daily. Not 60k and 100k and 300k