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ESS essential metals limited

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Ann: Scheme Booklet Registered by ASIC, page-62

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lrothschild

2,771 Posts.

1555

21/09/23

14:58

Post #: 69959953
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Originally posted by Names little: ↑

Hi RAF, it’s a real concern, they are even holding Woodlawn off until commodity prices improve. Whether that’s just to get a better return or whether it’s not real viable at current levels probably depends on whether you believe DVP or not.

Their chart is also in the process of breaking down in my opinion. A series of lower highs and also recently had a “death cross” where the 50 day ema fell below 200 day. Momentum is definitely downwards.

I can see why they are looking for a good asset.

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Market history suggests that death cross tends to precede a near-term rebound with above-average returns. The 10-day moving average is now above the 20-day moving average, which indicates an upward trend is in place. Volume and momentum also point to a continuation of that trend.

Longer term DVP upwards trend still very much in place...

ESS Price at posting: 46.5¢ Sentiment: Hold Disclosure: Not Held
5 Upvote

2 Great analysis

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Ann: Scheme Booklet Registered by ASIC, page-62

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