Si6 Metals Ltd. (ASX: SI6)

SI6 is an exploration company focusing on base metals and metal targets like nickel, copper and platinum group elements (PGEs) in Southern Africa and Western Australia.  

Technical Analysis: On a weekly chart, SI6 prices are trading below the falling trend line resistance level and facing the resistance of the trend line. Also, the prices are trading below its 21-period SMA that further support our watch stance. Moreover, the momentum oscillator RSI (14-period) is trading at ~38.14, indicating weak price momentum for the stock. An important support level for the stock, is placed at AUD 0.006 while the key resistance level is placed at AUD 0.008.

Individuals 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 long-term downward trend, and momentum indicator analysis, it is prudent for the individuals to ‘watch’ this stock. The stock was analysed as per the closing price of AUD 0.007 per share on 12^th July 2022, settled unchanged compared to prior day.

Weekly Technical Chart – SI6

Data Source: REFINITIV, Analysis: Kalkine Group

Peppermint Innovation Ltd (ASX: PIL)

PIL develops and commercializes mobile banking, payments and remittance business with operations in the Philippines to create financial inclusion for users.

Technical Analysis: On the weekly chart, PIL prices are getting resistance of a downward sloping trend line and broke a crucial horizontal trend line support that indicates the stock is trading in a weak trend. The momentum oscillator, RSI (14-period) is trading at moderate zone at ~38.85, further indicates indecision in the stock prices. An important support level for the stock, is placed at AUD 0.008 while the key resistance level is placed at AUD 0.011.

Individuals 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 a primary downward trend, and momentum indicator analysis, it is prudent for the individuals to ‘watch’ this stock. The stock was analysed as per the closing price of AUD 0.009 per share on 12^th July 2022, down by 18.18%.

Weekly Technical Chart – PIL

Data Source: REFINITIV, Analysis: Kalkine Group

Note 1: 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 2: Investment Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. 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 downtrend may take a pause backed by demand or buying interest. 

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

Stop-loss: In general, 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 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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