CAZ 6.67% 1.6¢ cazaly resources limited

I would like to comment on both the technicals and this thread....

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  1. 2,352 Posts.
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    I would like to comment on both the technicals and this thread. First the technicals:



    The chart is very bullish in my opinion, why:
    - MACD crossover is now bullish (green)
    - today the 30 day moving average has crossed 50 day moving average. This is a bullish crossover.
    - I'm not surprised that the price closed at 42 cents as we were approaching the top of the bollinger band. CLosing at 42 cents mid upper bollinger band territory is very positive and alludes there is possibly some upwards trending accumulation going on.
    - Bollinger bands begininng to point upwards.

    Furthermore as you can see I have drawn the support lines which we have crossed. I would like cazaly to hold over 42 cents for the next couple of days before pushing up over 45 cents - I believe if we can push upwards from 45 cents then this chart is defiantely a bull. The arrows represent payoffs over time; There is a short range and a large range. I would expect that on news of a port allocation that we will definately fill the large range and move to around 63 cents (though I believe that the port allocation will reward us with more than the large range). The short term range should be filled imo when we recieve news about the options being excersised and have a decent cash deposit in the bank - the reward is 45 cents. Nonetheless, the technicals are looking bullish.

    Onto the thread discussion. I know a few have discussed the POL takeover by MIN. I would like to add that when this takeover was made, POL did not have a port approval, any environmental approvals or DFS. CAZ on the otherhand, if subject to a takeover, would be likely to deinfately have 2 of the 3 above annoucements (at that time). There has to be some cash value assigned to recieving a port allocation, DFS, and environmental approval as it would reduce costs for the takeover bidder. I would expect that a takeover would be above 1 dollar and closer to 1.50.

    Cheers.
 
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Last
1.6¢
Change
0.001(6.67%)
Mkt cap ! $6.458M
Open High Low Value Volume
1.5¢ 1.6¢ 1.5¢ $13.34K 837.0K

Buyers (Bids)

No. Vol. Price($)
4 481859 1.5¢
 

Sellers (Offers)

Price($) Vol. No.
1.6¢ 467811 1
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Last trade - 12.36pm 04/12/2024 (20 minute delay) ?
CAZ (ASX) Chart
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