Well, here we go.... Bit of TA, bit of FA for your Wednesday...

Well, here we go.... Bit of TA, bit of FA for your Wednesday night.

I bought into VMY today for a few reasons that I am happy to share with all

Technical Analysis -

Top to Bottom Photos = 1,2,3 & 4

1 - Fibonacchi Extension following the double bottom that has occurred shows first target at .190 (23.60%) with the next SP target at .245 (38.20%).

2 - Daily showing close to a long term downtrend with a very large increase in volume over the past week. Strong support around .100 or recent raise at .110

3 - Weekly also looking solid with a close to long term downtrend break on increasing volume. RSI on the uptick along with the MACD (plenty of room for upside)

4 -  Uranium price basing from late 2016 and now starting to turn up on news of supply crunch looming.
https://www.ft.com/content/4ce3889e-6897-11e8-b6eb-4acfcfb08c11
"uranium is misplaced in this market.... one of the few commodities yet to recover....key part of the green energy revolution"





Fundamental Analysis

- Sub 50MC
- Near term producer of Uranium
- Cashed up >10M
- Pattersons have a PT of .260 for Vimy
- Top 20 holding 65%
- Mulga Rock site also has Nickel, Cobalt, Copper and Zinc (burger with the lot)
- Strong management determined for a turnaround




There it is folks, grab yourself a Syrah (Shiraz) from Warramunda Estate and enjoy the read. Have a great night!