Others like AUZ, CLQ & COB seem to have stabilised after the recent sell-off and whilst I had JRV on a trajectory for 22c, news of the Kabanga application has changed my mind. After some consideration, I like that the company is looking to diversify through direct investment and project development.
As per the attached chart, JRV next target is 41c after which we could see the formation of a longer term cup & handle pattern with a 70c price target. At that point JRV MC would be approx $150M which is still below the likes of AUZ & CLQ (despite those companies being a little further along with their respective project development).
A little double inside day pattern has formed over the last 3 trading days which can indicate a continuation of the uptrend after a 'short' period of consolidation. Hopefully, we'll crack through 37.5c on Monday ... the buy/sell ratio would suggest it's likely. Consistently solid volume over the past few weeks also which means buyers are lurking at current prices.
50c?, page-35
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 (20min delay)
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Last
1.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $29.73M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.1¢ | $13.69K | 1.177M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 6353515 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 1024594 | 6 |
View Market Depth
| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| JRV (ASX) Chart |