A massive night on Gold markets….bodes well for recovery bounce on a few of our well traded Coys - BC8, LRV and little ol KNB whom all go back on my WL today.
Only holding two into todays trade;
BYH - the ASX’s next hype runner. TMG crew trying to get control of the board…broke 1c res on power yesterday closing above. Good start. We need to go back again to the 3 yearly to find next res levels (much like we did with DTR). 1.6c looks the next test, mentioned yesterday we may get that in the next couple of sessions. I paid a little higher yesterday on entry at .009 as was seeking confirmation of .008 break and push above. We got it so happy to pay a little higher. Let’s see what happens here today.
APX - wanted it to retest $1.100 below since sought on Friday and did to complete the 3rd leg of one of my favourite charting patterns, the W bottom (monthly.) If TA holds firm, the 4th leg pushes back toward $1.33. Again, no guarantees here, this stock has done everything we expect it not to in the last 12months. I am backing the trade that it will.
Red day ahead for the likes of DTR, LKY and TMG in my opinion after substantial moves recently. The steam certainly looks to have finished being stoked on DTR - crunching back 100% off recent US20c highs to close on their markets at US8.8c overnight. LKY - placement holders at 4c may look to realise some gains.
Anyhow…..best trading guys. Should be some gains to trade today.
