WAF 0.34% $1.47 west african resources limited

Hi @YLJ ... Nice pick-up on a Daily Outside range candle for...

  1. 2,612 Posts.
    lightbulb Created with Sketch. 1899
    Hi @YLJ ... Nice pick-up on a Daily Outside range candle for your entry level for your RHS low trigger. Two other TA tools(Pitchforks and Fib Range extensions) give similar potential targets in this run ... Well, near the low $1.50's on a long-term Daily. However, in the short-term, I would be expecting a consolidation, of this marvelous run since the 72c/88c lows, to begin that should see another opportunity to trade in. A move back from not far above today's highs could mean a move back down towards the now important $1.23c support level(near your neckline, right!) or even to test the ~ $1.155/13 levels. BUT, again for entry/re-entry(late investors/traders) as the long-term Monthly, going back to the 2016 Low, still suggests we could see as high as the low $1.70's.

    Monthly Chart is simple ...
    WAF_APFib_131021_Mthly.png

    DAILY Chart ... Far more detailed(complex?) but enclosed to highlight how the use of two Fib ranges and retraces seem to be in balance, not only within themselves, but also with the Pitchfork suppts/resists. They also support your projected Pattern (MM)Target zone.

    WAF_APFib_131021_Dly.png

    P.S. 1 ... Did exit 1/3rd my holdings in WAF today ... fortuitous maybe but only if it does get back towards the $1.23c/$1.15 levels I mentioned to re-enter. Sure, if I'm wrong then I loose some cream.

    P.S. 2 ... I'm expecting another West African "goldie"(but also Lithium) play ... FFX ... will start to emulate what WAF has done recently as they have 'over-due', but expected vg, gold drilling and production announcements coming soon as well.
    Last edited by Tanotfa: 13/10/21
 
watchlist Created with Sketch. Add WAF (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.