HMX 2.63% 3.9¢ hammer metals limited

This is only the beginning of a journey. It has taken sometime...

  1. 11,010 Posts.
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    This is only the beginning of a journey. It has taken sometime for HMX to complete the establishment period, a period where the shares were travelling horizontally within a range. During this period the share price try to break out triple times but were not able to, for various reasons. It was not ready probably due to insufficient resources to make an upgrade in the JORC, low copper and molybdenum prices. The situation has changed significantly now as HMX made some amazing discoveries at Kalman and copper and molybdenum prices have climbed especially molybdenum price has more than doubled.
    When HMX broke out from stage 1, we are entering a period of tremendous AND exciting progress. To get off now is to have a ticket to ride this train for two years only to jump off when the train is leaving the platform.
    Confirmation of changes are the very big volume on the breakout , the share price surged past resistance level convincingly. Subsequent transactions after dominant candle were around the top of dominant candle and did not violate the midpoint of the dominant candle.
    This is a very bullish chart pattern. I have learnt from other shares that entered the Weinstein's stage 2 tend to reach new significant heights before it comes to an end and it could take a few years for the trend to end.
    My ticket on this train is to enjoy the beginning of a journey as the saying goes, "the trend is your friend", ride it till it bends.
    Looking on the project on fundamentals, we could be on a multi billion one, in an explosive region of copper and rees where aggressive and inspiring giants of commodities made their mark. It makes sense for a company like HMX and CNB, two tiny exploration companies to get together to form a significant enterprise. No doubt i am on a rosy binoculars, we are on one that will make history, I am glad I have a ticket on this train. This is only a technical aspect not a financial advice from a holder that believes in a dream. Will this dream come true?
 
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Last
3.9¢
Change
0.001(2.63%)
Mkt cap ! $34.56M
Open High Low Value Volume
3.9¢ 3.9¢ 3.9¢ $7 176

Buyers (Bids)

No. Vol. Price($)
1 121162 3.8¢
 

Sellers (Offers)

Price($) Vol. No.
4.0¢ 345839 2
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Last trade - 11.28am 17/09/2024 (20 minute delay) ?
HMX (ASX) Chart
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