Good Morning DT Folk!
As you are all aware I have been on a bit of a holiday from HC ( suspension ) but have been in discussions with the Admin of the website to have my access re-instated.
I hope to be around most mornings with some pre market charts and thoughts about some previous or currently discussed stocks as well as potential ST plays.
Because my charts will be posted pre-market please consider them as potential day trades, but also ST setups looking for potential reversal trades, or maybe just ones for the WL as things can change with news events before the market opens or even intra-day.
I wont be providing any intra day chart or "posts" about stocks. However i will be happy to answer any questions about the charts i have posted in the pre-market, and if requested i will be happy to provide an updated chart in the afternoon thread to see where it currently stands in terms of the days action.
Ok so here goes
MYL Cup and handle on the daily, action recently has been very good and looks to be finding a new support base around that 7.9/8 cent area. Action yesterday suggested the seller around this area maybe done. There is a current broker target of 22 cents and a 45 cent valuation based on the very high grade resource. Which from my understanding is better than NCZ's who's market cap is significantly higher ( obviously they are far more advanced )
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AVL Cracker of a chart, Vanadium is hot right now! Mondays candle was certainly in overbought territory. Came back yesterday to that first area of support, that's maybe enough ? Would much prefer another lower volume day today and a test of 5.7. Think there is plenty more in the tank on this one, just need to find the right entry.
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LPE Had an excellent quarterly, cash flow positive in a growth business which looks to be finally getting some good traction. Ran into a bit of supply yesterday and was sold down late on light volume. A good soak in this 2-2.2 area here bodes well for a test of 2.3 then 2.6. One for the WL
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NVO Interesting little stock this one, MC of $2.4 Mil and $1.2 Mil cash in the bank giving it an EV of $1.2 mil. Basically in shell territory but with a growing business and a partner ship deal with IBM. I think this chart has alot of upside from current levels especially given the recent volume and activity. ST targets of 1.4 and 1.9
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PCL Is this the next cab of the rank in terms of oil explorers, been plenty of hype around CVN lately, and from what i have read about this one there could be plenty of upside, currently testing a multi year break out on the chart. One to watch
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TYX Bit of a dog stock this one, but is currently sitting at major support. Could be a good entry for the ST, certainly not a day trade.
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EM1 Has fallen away, possibly on the back of ESH as well. I think this maybe in the zone here to buy. Maybe one for the WL for now. Needs some news to turn up but maybe a good ST entry
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Now for a couple of outstanding stocks that have performed very well especially through a tax loss selling and into the start of July
DSE Just an absolute ripper of a chart, all the signals were there, the data lined up plus a few other pieces of information if you do a bit of digging. Has been an absolute gun trade from the lows, looks like yesterday was a massive distribution day. This will most definitely need to cool off now. Not so sure its worth the current Market Cap. Would be looking for a retest of that 12/12.5 area on decreasing volume
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BID This one was easy to spot, another one which had a few things lining up and offered a couple of decent low risk entries on the way up. Believe this one has more to give, but probably needs to consolidate around that area up the top of the chart. News is expected this month, certainly one to keep on the radar.
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BSM Last but not least, not a day trade here but one of the better basing charts around, with everything being soaked up @ 2.7 and 2.8. Main seller is Pershing's unloading all the converted options, but they cant have too many left to go. Expect this to multi bag in due course, with lithium assays pending this could be the catalyst for a major re-rate.
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Ok thats it from me.
Happy Wednesday everyone hopefully there are a few more opportunities out there now we have got past EOFY and latest quarterly session.
Cheers
V
