Ectoplasm, I always value your analysis. Its interesting from TA perspective and yes sitting on the 50% Fib and bottomed in the golden zone between 50% and 60% Fibs while remaining above the significant 200 MA is positive. I note the fractal alignment circled to the left and the price position on the 50% fib to the right on the daily chart below. This too is positive.
I have added more more comparison on the MACD by including a momentum histogram rather than the traditional MACD histogram and a Weinstein Stage analysis. Bouncing off the 50% Fib is a regular market move by using stopping volume to secure a buy on the dip by market makers when some recent news indicated management was looking to also expand O/s. It takes little away from the value and progress in Tasmania IMO because the value and high grade of the resource when there is deteriorating world supply of other tin producers and yet there is increasing electronic demand for tin. Market makers may tend to have a long view for growth here as expressed through the current TA. So, I think Stage 4 of the Weinstein analysis will be relatively short and a move to accumulation will soon begin given the proximity of price to the trend line. Its probability, not certainty. Certainty lies with management decisions. Its a bit of wait and see until prices are marked up for a break of the short downward trend by market makers. General market conditions have many punters holding cash and perhaps a little fearful. Stage 1 is generally marked by position traders accumulating in anticipation of higher prices long term. However, I would like to see management comment on direction and priority to sustain a Stage 2 for growth given the oscillation between topping in Stage 3 and growth in Stage 2
Where the momentum MACD histogram assists in pre-empting an upward move on the dip, is looking at the rhythm and touch down points of major moves and if the next two columns in the histogram after a bottom in the last downward move show upward movement This won't be seen in the Parabolic SAR indicator yet until a breach of the short down trend line. Volumes are key indicators too.
All food for thought at these discounted values. GLTA.
SRZ Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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