Nice Bullish Diamond Bottom pattern formed on the Chart and a great update from Bill, hopefully we hear something from RMX soon, qtrly due today or Monday latest, but really shouldn't be much in it, all waiting on the lithium drilling and the cobalt due diligence.
But the Chart is looking good, pushing up slowly each day/week and forming this Bullish Diamond Bottom pattern, which is quite a reliable pattern most of the time.
The light Green lines form the Diamond pattern, and then the Red lines within the diamond are the trends, with A being the new low and bouncing off support, B making a higher low and now C is the same level or potentially in formation where it would be at 3.2 making another higher low and getting to the point where it's ready to start moving up.
Timing nicely with lithium drilling and Cobalt due diligence being completed.
MACD has been trending up in a bullish formation, whilst the stock has essentially traded sideways but on a slow/gradual rise over the last 2 months which is good.
The EMA and MA lines have all converged tightly together and are just waiting to breakout.
The Bullish Diamond Bottom pattern gives a share price target of 5.3c based on the rules of the pattern and this is not out of the question with Lithium results and Cobalt due diligence and would only be the first target in the short term.
RMX Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
