Ionic Rare Earths Ltd. (ASX: IXR)

IXR is an exploration company with its flagship Makuutu Rare Earths Project located in eastern Uganda.

Technical Analysis: On the daily chart, IXR prices moved up significant in past 9 months. However, now the prices are taking resistance of the upward sloping trend line that indicates prices might correct from the current levels. There is a negative RSI divergence with price clearly visible on a daily chart that further indicates bearishness in the stock prices. Moreover, the momentum oscillator RSI (14-period) came down from overbought region and trading at ~63.53, indicating negative price momentum in the stock. An important support level for the stock, is placed at AUD 0.073 while the key resistance level is placed at AUD 0.094.

Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Considering the company’s current price levels trading at extreme higher levels, RSI negative divergence with price and momentum indicator analysis, it is prudent for the investors to ‘Watch’ this stock. The stock was analysed as per the closing price of AUD 0.082 per share on 05^th April 2022, down ~5.75%.

Daily Technical Chart – IXR

Source: REFINITIV

Helloworld Travel Ltd. (ASX: HLO)

HLO operates in a travel and destination management business. It offers air ticketing, wholesale leisure businesses, corporate travel management, and accommodation management operations and online operations.

Technical Analysis: On the weekly chart, HLO prices are trading in a symmetrical triangle pattern on a weekly chart with clear price direction. Moreover, the momentum oscillator RSI (14-period) trading at moderate region at ~53.87, further indicates indecision in the stock. An important support level for the stock, is placed at AUD 2.182 while the key resistance level is placed at AUD 2.660.

Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Considering the company’s current price levels trading in symmetrical triangle pattern formation, and momentum indicator analysis, it is prudent for the investors to ‘Watch’ this stock. The stock was analysed as per the closing price of AUD 2.450 per share on 05^th April 2022, up ~2.94%.

Weekly Technical Chart – HLO

Source: REFINITIV

Note 1: The reference data in this report has been partly sourced from REFINITIV.

Note 2: Investment decisions should be made depending on the investors’ appetite for upside potential, risks, holding duration, and previous holdings. Investors can consider exiting from the stock if the Target Price mentioned as per the Valuation has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level where-in the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level where the stock prices tend to find resistance when they are rising, and the uptrend may pause due to profit booking or selling interest. 

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

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