Golden Deeps Limited (ASX: GED)

Golden Deeps Limited is an Australia-based mineral exploration and investment company. The company is focusing on exploring and developing projects in Namibia, Australia, and Canada.

Technical Analysis: On a weekly chart, GED prices are moving in a downward direction, and recently prices took support at lower levels. GED prices are trading below 21-period SMA which may act as a resistance and 50-period SMA is just moving below the CMP which may act as a support in the near term. The momentum oscillator, RSI (14-period) is trading around the midpoint and showing a reading of ~49.05, which may further support the prices in the near term. An important support level for the stock is placed at AUD 0.012 while the key resistance level is placed at AUD 0.016.

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 a downward direction, and momentum indicator analysis, it is prudent to recommend a ‘Watch’ stance on this stock. The stock was analysed as per the closing price of AUD 0.014 per share, up by ~7.692%, on 11^th July 2022.

Weekly Technical Chart – GED

AD1 Holdings Limited (ASX: AD1)

AD1 Holdings Limited is a technology company focused on establishing and investing in software companies. The company provides software services and technology platforms to its customers, as well as other related support and consulting services.

Technical Analysis: On the weekly chart, AD1 prices are moving in a downtrend with lower lows and lower highs formation since September 2020. The momentum oscillator, RSI (14-period) is trading in an oversold zone and showing a reading of ~22.19, which further indicates weakness in the stock prices. An important support level for the stock is placed at AUD 0.010 while the key resistance level is placed at AUD 0.014.

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 with lower lows and lower highs pattern, and momentum indicator analysis, it is prudent to recommend a ‘Watch’ stance on this stock. The stock was analysed as per the closing price of AUD 0.012 per share, as on 8^th July 2022.

Weekly Technical Chart – AD1

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

Note 2: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

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 any 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 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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