Australia's largest stock trading and investment forum Australia's #1 stock forum

ENR encounter resources limited

0.00%

24.5¢

ENR Weekly Report, page-73

First 73 Last

Share
Profile

Follow
Archieros

1,968 Posts.

244

19/08/24

02:38

Post #: 75260433
Share
Originally posted by dc1234: ↑

Weekly Review REE Stocks - 16th Aug 2024

Here is the weekly review figures and charts that I do every week. It is useful only for those interested in trading or those who hold multiple shares and based on performance would like to keep re-balancing as we go. I do hold a number of REE stocks and like to trade. This is the reason I include a number of REE Stocks in my analysis. I also have history of 2023 for those interested in longer term view.

Please note:
This is no reflection of all AU REE stocks as I have only included those that I am interested. In my list are shares that I hold, held before or planning to buy in near future. Since this is my list, I may have missed some good stocks. The averages are simple averages and not weighted averages. So the average don't reflect AU REE average. This is just for my tracking and analysis.
.
.
Please note that all my analysis are from a trading perspective looking at short-term view.
.

This week no new additions, so my list contains 30 REE related stocks.
.
.
How are we going in 2024 - General Market
SP 500 looks like it has regained its mojo. It dropped close to 10% from its all time high, it was in a critical juncture where any further fall, many analysts thought it could be up to 20%. Last week it recovered later in the week and finished flat for the week. This week it finished nearly 4% up. Last week was at 5344, this week 5554. So really good in general markets. All time high is at 5669, now within 2% of it.
Volatility Index VIX is at 14.80, last week at 20.37. So VIX after reaching 60s and creating a panic, is now telling, bulls are in control, below 15 - another positive indicator for general markets.
Bitcoin wavering, still volatile but now volatility in 5% range rather than 20% range. At 59k currently, down from 61k last week, but still within similar zone. No strong indicator now from Bitcoin.
Sentiment Indicator - on 35, Fear, last week 24, Extreme Fear. So sentiment changing as well, though it could be a lagging indicator.
Russell 2000 this week played nearly same as other indices, gaining around 3%, moved from 2080 to 2141. But if commodities, small caps, risk-assets have to do better, we need a much bigger move. It has been worst performing index, and still is. Lets hope it turns. We need rotation into these sectors for some big gains
Yields slightly down from last week, hovering around 3.9.
Dollar Index too going like Yields,
Gold, Silver on the rise again, Oil - no major direction.
So overall markets looking like regaining its loss of 10% - in a slightly positive frame this week
.
.
.
What may happen next week - General Markets/U/Li/REE:
SP 500 may try to get to another all time high soon, who knows, maybe next week. So long as 5119 holds, the upward trend is intact.
Russell 2000 is trying to recover, we need some big weekly jumps over here, 5%+, not taking 1 step forward and 1 back. Lets hope it turns.
Economic data - FOMC minute on Thursday morning, Powell speech on Friday night - major movers, rest usual data
Uranium Sector overview - I have been writing for couple of months, May end top, July end bottom, September end top. CCJ to reverse from here. This week CCJ played mostly around the next key level of 39/40, after reaching 35.43 previous week. So behaviour at this stage looks like consolidation. Its a key level, so some churn may happen around here - in fact its already happening. How long? I don't know. From numbers perspective, if it can stay above 35.43, the reversal play could still be happening. But if it loses 35.43, for me it would be an uncertain state and I play accordingly. On the upside, key is to get to 45. If it can reach there, very good chance of another all time high beyond 56.24. This phase I am expecting mid 60s if things go fine. But very early days, we will know more as we go. I had exited all my U stocks end of May. I was writing for last 2 months I will buy over here. I bought 40% last week, another 40% this week, rest I will see. Any weakness I will exit and then wait. We had our first green week after 4 weeks of red, so a good sign.
Lithium Sector overview - A mixed week. Both ALB and Ganfeng made 52 week lows. ALB recovered 10% from its lows, Ganfeng is within 1% of its low. PLS buying LRS provided some impetus. So is it the bottom? Some signs, but nothing clear at this stage. Confirmation is still away. But PLS buy of LRS has given some momentum to sector. Many feel these type of actions happen near bottom. The problem is - Lithium prices continue to decline. It still lost 5% for the week, 15% for the month. Many stocks still doing 52 week lows like every other week. So we need some more change, some more data to start talking seriously about bottom. Many of the rises in Li stocks could be attributed to Technical bounce rather than Fundamental bounce, except LRS gain. So at this stage, an open mind, some signs and hope that it continues. On the positive side, first green week after 4 weekly reds, so certainly some signs are there.
REE Sector overview - REE stocks having a similar play like Li sector. Last 5 weeks, REE stocks on average were in red. This is first time after 5 consecutive reds, we got a green. Li/U sector similar behaviour, so may be common feature. So have we seen the bottom in the sector now? Still early days, though some hope is either, not enough data to think its happening. A confirmation could be still a while away. General markets are behaving well, that can certainly help the cause.
.
.
Personally:
This week for me similar to last week. Last week I had bought 40% of U stocks I wanted to buy. This week U stocks were in consolidation. I had thought if they don't drop, I will keep on buying. Bought roughly another 40% or so. Rest I will see how it goes in next week or two. U stocks I am playing (LOT/AGE/CXU/EL8/BMN/BOE/DYL/PDN/SLX/AEE). I like to spread, in case one or two doesn't work. Its individual choice, sometimes one stock may give biggest rise. I try to reduce risk of specific stocks not doing well. Besides Uranium, I am playing very cautiously, not playing Li/REE at this stage. Just a few stocks here and there. Other plays in health stocks, with some splattering across Gold and Oil/gas - most of these I play standard spreading the money, so don't usually write there, but currently I have got around 10 stocks in these sector I am playing there.
.
.
Stock/Sector specific Info:
This week ENR continued the downward trend - a drop from 50 to 48 this week, last week 53 to 50, before that 61 to 53. This week it was about holding 46. I had written there is a chance ENR may want to play 46, a 50% drop from its recent high of 92. It did fall below that. Reached 44.5. But did recover on Friday to 48. Still lost on weekly.
As I wrote in sector review, After a long time REE stocks made a green on a weekly basis. General markets also seem to have recovered from its 10% drop. Last week I wrote, if something goes wrong, ENR needs to hold 40s. It did though this week, and also there is lot of buffer, another 15/20%, so will not happen suddenly (on technicals, any news could change). I feel, if it can hold this level of mid/high 40s, that will be very good, just from a price perspective, keeps open the door for another big play on the upside. But if it doesn't hold 40s, only a very strong announcement will be able to provide the next big gain.
Volumes have decreased considerably. I could use word - drastically, after we saw from the rise of 30s. Its both good on bad. Good - may be signs of bottoming. Bad - punters losing interest now and it will take a lot more to get them back. Lets see, I feel next week is important. Lets hope its a good one.

No ASX REE stocks did a 52 week high this week, again this week. But slight improvement in numbers, lets hope its not far away.
REE stocks down 23% for the year, so it was looking very bright few weeks back, its reached a very concerning stage now
Personally as I wrote 1 month back, I exited my stocks. My buy average was 30.5 as I had written. On the big news day, I read the responses. I am not very great on fundamentals. I got a feel by reading the posts that its not great. I play on technicals, trading patterns more, so I exited in early 80s. I am watching now from trading perspective. At this stage its still looking vulnerable - though some signs of bottoming. So watching every day, nearly every trade for some signs. No confirmation yet that we may have bottomed or of reversal, but it can happen, or would have already happened.
General markets getting better, slight improvement in sector, so some cautious positivity may come into play. I will wait for confirmation.
.
.
Here is the Figures for the Week:
.
.

Expand

hi Dc thanks for this

do you look at SGQ?

I expect big things for ENR also
ENR Price at posting: 48.0¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

SFX

Sheffield Resources spruiks 'pleasing' maiden MRE at South Atlantic Project

Markets were expecting Trump to bomb Iran. It's just another new normal

Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem

ASX Market Close: Middle East War rattles investors | June 23, 2025

Uranium ignites: Is this the start of a supercycle?

First 73 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last 24.5¢		Change 0.000(0.00%)		Mkt cap ! $122.2M

Open	High	Low	Value	Volume
25.5¢	25.5¢	23.5¢	$55.31K	226.5K

Buyers (Bids)

No.	Vol.	Price($)
1	27189	23.5¢

Sellers (Offers)

Price($)	Vol.	No.
24.0¢	2	1

View Market Depth

No.	Vol.	Price($)
1	27189	0.235
1	4000	0.230
2	17733	0.225
4	38609	0.220
1	20000	0.215

Price($)	Vol.	No.
0.240	2	1
0.245	142093	1
0.260	75081	3
0.270	12273	2
0.275	74218	2

Last trade - 15.27pm 23/06/2025 (20 minute delay)

ENR (ASX) Chart