Hi guys,
Just a few charts and a quick continuation of previous post.
https://hotcopper.com.au/threads/short-term-trading-week-starting-29-jan.4615530/page-60?post_id=37271292Gold: The rally continues moving from name to name. RMS kicked things off for me.
Out of my favourite three developers I mentioned WAF, EAR, VEC:
EAR has gone bezerk was good value at the base, its time for it to pullback and settle now.
WAF looks like its time has now, I grabbed some today. When I say grabbed some, its a small amount on a side trading account to keep things rolling as I await for my shells to wake up lols.
Both daily and intraday chart below, it closed above resistance. Would've tipped it if it was a smaller company.
VEC looks lke they're going through some teething issues first over the acquisition transition. Still like the asset but will likely take some more time to have its move given Lukama is proactive with it.
A gold producer I have taken few lately is PNR. Just on the pullback and volume was suspect on that green spike 4sessions ago and has dropped off.
As for other charts from the previous post.
CVN has failed and copped supply
EXU continues making new highs (although on lower volume and illiquidity)
WGX Update:
Pushed on very nicely.
BAL update: Played out well, I've noticed all the milky's getting a solid run lately. I'm still on A2M and CLV.
CLV trading 13x quarterly revenue with 30% profit margins looks like its attempting a move into resistance (chart below). A2M feeling little stretched here but cracked 1300's today, will have to wait and see where it bumps is head for pullback.
Dairy prices up 5 fortnights in a row in NZ, was up 6.7% on last update 06/02/19, next one will be on the 20th this month which is the likely catalyst behind these moves.
CLV Charts:
GLN Update: That sneaky volume has been explained today with a 40% move lol. Didn't buy this as its lithium, and all the majors are way off highs. GLN I think one of few lithium companies globally still near its high absolutely bucked the trend.
From memory Corr brothers assisted with the deal here and did an excellent job regardless of lithium/market sentiments with the CAZ stable involved too, so hopefully they deliver some similar performance over at CR1 one of the shells I hold where they are top holders too.
DRM update: Hasn't done anything, but after todays action I say it looks ready.
As for new setups I;m watching other than ones mentioned above:
MYX: Biotech
SIG: No idea what they do
NCZ: Tolga Zinc play, more of a shorter timeframe "extended daytrade". But hourly looks very good. Might head towards resistance here. Should note this chart was taken during intraday at 0.73, it did close 0.76 so slightly more extended than what meets the eye on this image.
Bout to run few scans now see if I find anymore setups, these were just picked up throughout the day.
Nothing to contribute in fundamentals will be catching up on that through the night, but markets are looking healthier.
Payment tech, Gold and milk seems where all the money is flowing currently, so should set the thematics there ST.
Cheers
(20min delay)
