Has AW1 share price bottomed and is it due for a rebound?
RSI looks to be transitioning from over-sold (RSI = 28 a few weeks ago) to 42. The increase in the RSI suggests that there is some buying pressure coming into the stock. This could be due to the company's upcoming maiden mineral resource estimate for 4100N zone at Storm, Indium Resource news pending, Copper Warrior drilling activity, or the Managing Director's meetings with major investors in Europe at the moment which suggests the company is confident in the exploration activities going forward.
Looks like AW1 share price is showing signs of an upward trend developing and moving to $0.16 - 0.23 levels in coming weeks. Although, the trading volume remains low, I think the accumulation will begin to increase on the upside potential of the pending news flow which could translate as a positive catalyst for the share price going up to $0.16 - $0.23 levels.
AW1 Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
