I've decided to close my longs from 6.5p and 6.95p today at 8.2p, a little short of my target at 8.7p.
My reason is that it appears to be firmly into a 5th wave up from the lows and I also have to take account of the spread and how quickly these penny shares can move. Basically, I see upside as very limited from here in the short term and would prefer to bank my profit and wait for a retrace.
I still think it'll get to 8.7p on the ask side, but the spread may be quite wide at that level as often happens at a key resistance on AIM stocks.
My reason is that it appears to be firmly into a 5th wave up from the lows and I also have to take account of the spread and how quickly these penny shares can move. Basically, I see upside as very limited from here in the short term and would prefer to bank my profit and wait for a retrace.
I still think it'll get to 8.7p on the ask side, but the spread may be quite wide at that level as often happens at a key resistance on AIM stocks.