CNB 1.19% 42.5¢ carnaby resources limited

Ann: Queensland Resources Minister Visits Greater Duchess, page-14

  1. 4,216 Posts.
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    I wouldn't let myself be too confused by such short-term - even if well-intentioned - advice.

    We should keep an eye on the big picture.

    I am a friend of the gap theory. At CNB, all gaps have been closed - except one in the 1.40 area.

    The daily chart shows how an upward trend has been established since March. Resistances to the upside at around 75c and around 90c. A positive result of the scoping study could easily move the SP to these levels.

    In the weekly chart we could leave the 1 dollar mark behind us around July August. After a short resistance around 1.10 we would aim for 1.40.

    The rest is then written in the stars or is a story we can tell in 2025 - possibly fueled by a further rise in the copper price (and/or M&A activity).

    Selling at these levels and shortly before the release of the scoping study is not very wise in my view. DYOR

    https://hotcopper.com.au/data/attachments/6168/6168165-c7d57b5955d9cf5c3fd0644c2c99b989.jpg
    https://hotcopper.com.au/data/attachments/6168/6168168-eb3f7a8872d79d18e78c533a87d6f708.jpg
 
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