A careful look at the chart, and you can easily see that SLP is forming a bull flag after the peak of £1.50. Compare this to the last time this happened, a similar bull flag sent this higher. It looks to be in a strong, steady uptrend for now. Waiting for the bull flag to break. Note: Not professional financial advice. Thanks and GLTA.
Market cap: £336m Cash on balance sheet: $102.1m Net profit in Jan-Mar 2021 quarter: $43.1m You can quickly see how undervalued this company is, essentially running with a 1.5-2 price-to-earnings ratio so long as PGM prices don't fall significantly. Price action also extremely bullish. Chart seems to indicate clear route to the 140s.
SLP is up over 70% from when I first posted, and last week their broker (Liberum Capital) has raised target from 35p to 68p and potential 106p, based on a 'considerably undervalued tail of production'. All good news, along with Platinum and Palladium prices holding strong. Chart shows value building higher, buy the dips!
Looking for the next bounce from 50ma (orange line) at around 17p The price is respecting the 50ma on every pullback. Watching for entry.