NXM nexus minerals limited

2.60%

7.9¢

Fred, the NXM chart echoes the same sentiment as practically any...

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robbo24

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14/06/22

19:33

Post #: 61999416
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Originally posted by Fredwah: ↑

G'day @ByCon

Here's the LT chart that I have been following NXM with.

Death Cross occurred on 30 May which lead to the break through of the lower red trendline.

MACD had it's first bounce off the low. After a significant downward move, I prefer to wait for the second/third MACD bounce to look for an entry.

Potential support areas
20-21.5 - Top of the gap up area which coincides with the 20 psych level.
17.5 - 50M MC, although being in the middle of the gap I don't think it will be relevant in this case. Given that NXM don't have a JORC yet, I wouldn't overly rely on MC support levels e.g. XYZ has 1Moz which I/market values at $100/oz therefore XYZ should see support at 100M MC.
15 - Gap close

If looking for an entry/top up area, given that there is still two weeks of tax loss selling potential, I'm inclined to exercise patience and wait to see where support shows itself. Given the state of the markets and the significant decline in NXM SP from it's recent highs, I would expect that any good drill results released prior to 30 Jun would be sold into. Ultimately I'm waiting to see a support zone hold, the 50 EMA flatten out, and then the SP reclaim and hold the 50 EMA.

I still like the project, just waiting for the TA/FA ducks to line themselves up.

GLTAH

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Fred, the NXM chart echoes the same sentiment as practically any other explorer/developer/producer. Just look at NST, RRL, CAI, SBM. All smashed over the same period as NXM. The story told by the chart is not isolated by NXM, nor is it likely a sign of failure by the company.
Bitcoin "the new gold" is in tatters. What does that leave for a safe haven? Hopefully not long until a rising tide raises all ships.

NXM Price at posting: 20.5¢ Sentiment: Buy Disclosure: Held
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Last 7.9¢		Change 0.002(2.60%)		Mkt cap ! $47.69M

Open	High	Low	Value	Volume
7.7¢	8.0¢	7.6¢	$65.23K	824.4K

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No.	Vol.	Price($)
1	25000	7.7¢

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Price($)	Vol.	No.
7.9¢	100000	1

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No.	Vol.	Price($)
1	25000	0.077
1	200000	0.075
1	40000	0.074
1	185000	0.071
1	30800	0.065

Price($)	Vol.	No.
0.079	100000	1
0.080	160000	2
0.084	20386	2
0.085	18418	2
0.087	12000	1

Last trade - 15.31pm 20/06/2025 (20 minute delay)

NXM (ASX) Chart

Fred, the NXM chart echoes the same sentiment as practically any...

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Fred, the NXM chart echoes the same sentiment as practically any...

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