chart 2nd of march 2011

Technicals Update:



This chart is the best chart for a potential further breakout that i have seen on the ASX. I called a breakout on my last chart and I still see further rewards. My interpretation is as follows:

Fundamentals:
- Options have been converted = increased cashflow
- Winmar has listed on the ASX = CAZ owns 51% of hamerseley project which offers huge potential.
- Surely now you can feel that port approval is just around the corner
- DFS all ready and to follow port allocation within 2 weeks
- Environmental approval in final stages
- Expected to start production first half of 2011. I would expect August/ September if we arent takenover before that stage.

Technicals:
- The major signal is that we are soon to have a golden Cross on the chart (shown by the light blue shaded area). This is a huge buy signal.
- MACD is a screaming buy with an upwards trend.
- Price following the light thick green steep upwards sloping trend line
- Price travelling at the top of the bolliger band (pink bands) which scream a future breakout.
- As you can see all moving averages are beginning to point upwards.
- Cazaly up 40% in last month
- The arrows are repeating averages. We have a large repeating average and a smaller one. As you can see on my previous chart that we have filled the smaller repeating range as we have hit 50 cents. We have a price target for the small repeating range at around 55 cents which is a support/ resistance level. We have a price target for the large repeating range at around 63 cents. So we need to continue to uptrend. Fundamental news will provide us the necessary information that we will need for the future price target.

The technicals are extremely bullish as are the fundamentals. If your looking at downside for the company, I would say we would want to hold 45 cents as it is a psychological range and the next downside price support would be 40 cents - though we have seen over the past week or so how quickly we can break and unbreak 40 cents so I would not be worried about much downside. The chart is very strong imo.

Good luck to all holders :)

Cheers.