Noble Helium Limited (ASX: NHE)

Noble Helium Limited (ASX: NHE) is an Australia-based company that is focused on exploration of helium.

Technical Analysis: On the daily chart, NHE prices are trading below the falling trendline and facing the resistance of the same. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~51.20 level and showing sign of weakness. Further, the prices are trading below the trend-following indicators 21- period SMA, which may act as resistance zone. An important support level for the stock is placed at AUD 0.150 while the key resistance level is placed at AUD 0.210.

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 facing resistance at the falling trend line, momentum oscillator analysis, a ‘Watch’ recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.180 per share, as on 26^th September 2022, down ~2.702%

Daily Technical Chart – NHE

HRL HOLDINGS Ltd (ASX: HRL)

HRL Holdings Ltd (ASX: HRL) provides sampling services, laboratory testing & analysis, and cloud-hosted asset management services. It caters to food, environmental, occupational hygiene and construction industries within Australia and New Zealand markets.

Fundamental Analysis: For 1HFY22 ending December 31, 2021, HRL posted 10.1% growth in topline to reach AUD 18.01mn. Due to a spurt in employee costs, the company posted a net loss of AUD 0.73mn in 1HFY22 as compared to a net profit of AUD 460mn in the prior period. Its cash balance deteriorated to reach AUD 0.85mn as of December 31, 2021.

Recent Business Updates: As announced on August 12, 2022, ALS Limited, through its subsidiary, Australian Laboratory Services Pty Ltd. acquired its remaining shareholdings in HRL. As of the date, it had a relevant interest of 92.61% interest in the ordinary shares of HRL. Post this takeover, HRL Holdings was removed from the official listing in ASX trading with effect from August 26, 2022.

Technical Analysis: Technical analysis is not possible as the company is no longer traded in ASX.

Due to removal from the official listing on ASX, no rating can be assigned to the stock at the current juncture.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

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 Orange/ 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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