Yabbyuwu

Tesla Battery Day Reaction play

Long
Yabbyuwu Updated   
ASX:VUL   VULCAN ENERGY RESOURCES LIMITED
Buying pattern spotted after Tesla Battery Day on the 24th of September.

  • Followed buyers when the sector was falling, with an average price of 0.96

  • Watch out for gap up region with high volume from $1.04 to $1.15. More upside coming this level holds

  • Conditional exit trigger at 0.97
Comment:
More upside coming if* this level holds
Comment:
Sell: 30th of Sep due to morning breakdown with an average price around $1.20

Buy: Re-entry on the 5th Oct at average price of $1.14

Overall: reduced 40% of holdings
- 20% to fund my startup
- 20% to ASX:LKE

Rationale:
If the PFS turns out to be better than expected, VUL is likely to raise additional capital to conduct DFS. Might be better off to participate in SPP then.

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