daytrades feb 19 pre-market, page-5

Today's Picks

GGP/GGPO/VIL: Both stocks continued to form new bases around current levels yesterday. Interest could well increase again today as a further update on testing results is due at any time. GGP had a late rally yesterday and the chart starting to look better with the stochastic crossing and the RSI starting to rise. VIL doesn't look as strong with the price closing at the days lows. Hopefully an update will be released this morning. News Due: Final results from testing the lowest interval of the Fausse Point well.

MHM/MHMO: Another day and still no update on the silicon project. Again there were plenty of nervous sellers yesterday, possibly T+3er's who purchased at the recent highs three days ago. Technically the stock looks weak at the moment, which is why I decided against buying yesterday. The stochastic and RSI are both falling and the MACD looks like it could cross down in the next few days unless a reversal happens. News Due: An update on the Silica project (Wacker AG) is due by the 17th of February. Plans for exploration on gold and base metal projects located in Tasmania.

ADO: Prices are approaching the bottom of an ascending channel so I want to see the 5 cent level hold. The stochastic has crossed down but the RSI and MACD are both flat lining so technically I see no reason for alarm. Personally I expect prices to stabilise at or just above 5 cents before the next move up to test the upper resistance line of the current channel begins next week. News Due: Further license agreements for the company's Mix & Go technology.

BCN/BCNOA: Tweets confirmed that drilling is scheduled to start during this weekend. I would expect interest to steadily return to BCN over coming weeks as results draw near. The Bollinger bands are tightening very quickly indicating a substantial move might be getting closer. Other indicators also look ripe for a breakout to the upside. This will definitely be a stock to watch over coming weeks. News Due: Confirmation that exploration work has started at the Barlee gold project.

OBJ: A continuation agreement with GlaxoSmithKline sent OBJ shares soaring yesterday afternoon. I bought a parcel of OBJO soon after they were reinstated and managed to sell half prior to the close but decided to hold the remaining shares for the expected gap up on open this morning. The chart looks good with the stochastic, MACD and RSI all rising, indicating the run could be just commencing. I plan to sell into strength this morning and will watch until the price settles. News Due: Updates on evaluation agreements with 3M, GlaxoSmithKline and an un-named FMCG company.

NUP: The company released some stunning results from its Eva project in the Northern Territory. The results included extremely high grade uranium assays (up to 52lb/t with some very decent gold credits (up to 19.4g/t). The big question that remains to be answered is how extensive the deposit is but further drilling will be required to answer that. The company plans to raise capital in the near future with the issue of up to 150m shares at no less than 80% of the average trading price over the preceding five days. Judging by the sell-off yesterday afternoon I would guess this issue will happen very soon. I hold a few and plan to add to this post raising should prices fall significantly. Hopefully management demonstrate that they are acting in the best interests of all shareholders by waiting a further four days before the capital raising so the average price moves higher. If they don't then I will take my funds elsewhere. News Due: Details of capital raising for up to 150m shares at 80% of last five days average price.

ARM: Yesterday saw a comprehensive release by the company detailing the exploration plans for the flagship Capricorn Southeast project. The program is anticipated to include 15,000-20,000m of RC and diamond core drilling to test initial high priority targets. Also released yesterday was a BRR interview featuring the company's Managing Director, Rob Taylor. It is essential viewing/listening for those interested in ARM as it explains, in detail, the company's results to date, linked in with diagrams and photos. News Due: Commencement of exploration program at the company's Capricorn Southeast project.