2.7 has acted as an important level on 10 separate occasions over the last 5 months.
It kind of looks like a cup and saucer pattern on the chart, but it's not really part of an uptrend, so it doesn't strictly adhere to the definition. Looks nice, however, with the SP's low rising.
It's gone from 0.15 to 0.28, so the initial target might be 0.28 + 0.13 = 0.41.
Maybe we just need a little bit of news now.
We are awaiting on our Exploration License which was lodged on 29th March, but the Native Title Act allows 4 months for an objection to be lodged. Lithium Australia is not far from us, and they have been granted their Exploration License. If they make some findings maybe we would also get a flow on effect.
The lithium seniors have had a nice run lately, and there is usually a flow on effect to the juniors in that sector.
Forrestfield's intuition suggests the recent CR might be the pre-cursor to an announcement.
We have commissioned a consultant geologist to conduct a preliminary field reconnaissance, and visit to the areas under application. Maybe there will be some findings released.
It's oh so close now (and oh so frustrating with 3 failed breakouts).
CHK Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
