short term trading - week starting 4th march, page-17

Entry for STT list

FATA SGQ long

Nickel exploration East Laverton .WA

Tried to find something in the TA of an otherwise meagrely looking chart .

I am a novice remember !

The recent high of forty cents from a low of ten cents gives a range of thirty cents . The most recent attempt on a high was twenty four cents .... ten cents off the low of fourteen .

That gave us ten cents out of a possible thirty cent move .

Current SP of seventeen represents an initial target of twenty four cents again and then forty four cents .

Twenty two and a half should see it into the lounge .

FA ........

In short , a nickel explorer with a prime target in virgin ground .

SGQ await confirmation of targets and a drilling campaign at arguably the most prospective of the nickel wannabies

Price is announcement driven and the market wants action . Weather is key and so far so good . March announcement of April drill will be no surprise .

Other key factor is the JV they have with BHP . The agreement is due for renewal and will have new terms . Much interest in this deal . Fom memory it must be completed late this month or very early April .