Appears to be gaining plenty of attention. (Snip from...

Appears to be gaining plenty of attention. (Snip from *)

Diatreme Resources (DRX)

You wouldn’t know the ASX200 was in a long-term downtrend looking at this chart. Diatreme Resources is working towards a Definitive Feasibility Study for a potential mine at its Galalar Silica Project in North Queensland.

Things I like about this chart: Excellent short-term trend developing since April, including a major demand event on a huge influx in volume in late-May; This removed a great deal of dead wood supply, which judging by the shallow nature of the pullback to the short-term trend ribbon since, is now angling to get back in; Friday’s candle is a monster in terms of excess demand.

The long-term trend ribbon staring to gather some upside momentum. Things I don’t like about this chart: Socceroos vs Peru…Nil-Nil!