Hey there, only just seen the tag. [ATTACH] Weekly chart...

Hey there, only just seen the tag.



Weekly chart suggests this greenzone as support. Possible down to as low as 1.8c. Wasn't great that the 2.1c line didn't hold up and now is acting as a bit of a resistance point hence the block sells.

Ideally it wasn't to get out the downward trend line and then second step above 2.6c probably. That puts a test to that 3.6-3.8c range.

The RSI and Stochastics are both in their own wedges so the S/P break will correlate with 1 and or both of these breaking their respective wedges.

Whilst graphite has been going down, going is going up - so they're well timed to divest those assets as per previous announcements. The S/P given the raise and over subscription should put a floor in at these levels but it's possible that if the wider market continues to fail maybe not.

A bullish weekly would make the below quite nice for a multi year low cycle.
Sell volume has been decreasing and the shareprice decrease is also losing momentum which tends to indicate that general sell supply is running out.

we'd now like to see a green volume candle and ideally more that average volume - you can see historically that this has generally mean a bull run for several months.



Positive F/A news i suppose would be the MRE and subsequent testwork. Add in some positive exploration results on the Australia projects or a nice cash sale/farm in on the non-core gold projects and enough to paint a case for the swing.

In general graphite pricing decreasing has driven most graphite plays down in last 3-5 months. Throw in wider market weakness and here we are. I expect graphite pricing to rise in H2 of 2023. You'll see a general macro move in the graphite players should that be the case.

SF2TH