Duorado Resources (DUO) – Resource company vending in tech asset
The daily chart shows that DUO has appeared to reach a ST bottom around 1.1c – this level is proving to be strong support and has been tested numerous times. Volume has been declining since the enormous up day in late August, suggesting a continuation pattern.
I expect DUO to break out of its recent trading range in the next week or so and move up to retest that high at 1.9c. It’s not uncommon for these sorts of charts to end up as a cup and handle – look for a big volume up day, light retrace and then the test of 1.9c.
Confirmation that due diligence has been completed on the tech asset is the likely fundamental driver.
