Have run through a few scans and charts on Sunday arvo for some potential trading ideas for the week.
ADN : Great chart and reversal off that hammer on Tuesday. Unless there is news, i see no reason for that gap to be there, looking for a low volume gap close here.
ARU : Showing signs of a reversal here, maybe one to watch
AU8 : Looks to have come back and bounced off its base on volume Friday. One to watch
BCB : Ripper chart, likely to push higher here on declining volume and consolidate for the next leg up, one for the WL
BSX : Great action last few sessions, looks to be a seller lurking, but primed to break out above 13 cents ST
CML : Nice consolidation of recent move testing highs on Friday. Looking for a break out this week from this area on the chart.
Drilling commenced. Market Cap $10 Mil with $2.7 Mil Cash. Pretty cheap if you look at the likes of SGQ
DCC : Dunno whats really driving this thing. But may have found its low, volume really dropped off on Friday.
DEM : Should eventually break out of this area on the chart, patience required, but can see a significant move when it finally does.
ECS : Pretty decent chart here, one for the WL. Once it breaks that recent high. Will be looking for a back test for confirmation of support. Bit of supply to contend with, so may take a few cracks
GPR : Goldie looks poised here to break out. WL
IMU : Looks to be setting up for the next leg ?
IP1 : New high close Friday, bullish signs late in the day and then buy up in the auction. News close ? Push into the 5s on the cards here
IPT : Primed for a break away from current area on the chart, target still remains 1.3. Pop this could fly
MQR : Hammer put in on the daily chart last week, a move back into the teens on the cards here. Meeting Wednesday to approve acquisition. Should see this move higher once approved and all boxes ticked off. Maybe woth some comparisons to BMG. Market Cap at 20 cents post capital raise = $10.7 Mil with $1.7 $Mil Cash, EV = $9 Mil with drilling to commence very soon. Great ST/MT play here, free float is tight so will move quickly.
MQR Weekly, flag setup. Mid Term target 40 cents
NIC : Hindsight chart, should have been an easy one last week, given the supporting volume on the chart.
PCK : Looks to be setting up for another leg here, indicators turning back up, one to watch for a break away from the current consolidation area. Sell signal was quite clear back at the end of June.
PMY : Nice flag setup here on the daily, looking for a break out, flag pole gives a target of 1.5
RHT : Whats cooking here ? Targets 15.5 and 17 cents
RXL : Bit of a flag on the daily chart, given the action on SPX friday one might think more news is due. Could see RXL really turn up this week. Target 3.9 cents
SCI : Something is def cooking here, 2 of the highest daily volume bars in over 18 months, closed above the 200sma. Looking for a break out this week ?
SDV : Bit of a chart here, watching for a break north of 30 cents
SGQ : Ripper chart and break out on the back of Nickel. $60 Mil MC. Hence why i think CML is the value buy here given drilling has just commenced. Results tend to come thick and fast with Nickel
STX : Looks to have found some support on this area of the chart. Maybe an OK entry with a tight stop for next round of news
SUP : Research note out last week giving it a target of 6.5 cents. One to watch for a break above 1.9. Target gap close @ 2.4 cents
SVT : Something cooking here, worth keeping an eye on, get the feeling this maybe the start of a bigger run
