Cooper Energy Ltd. (ASX: COE)

Cooper Energy Limited is an exploration and production company, mainly involved in the supply of gas to south-east Australia. The company is involved in low-cost Copper Basin oil production.

Technical Analysis: On a monthly chart, COE prices are trading in a primary downward trend. Prices have recently shown an upside move but the stock has not able to maintain its upside rally and decline after the price took resistance of a downward sloping trend line. Moreover, the momentum oscillator RSI (14-period) is trading at ~42.30, indicating weak price momentum for the stock. Prices are also trading below to its 21-period SMA that also support our watch stance. An important support level for the stock, is placed at AUD 0.220 while the key resistance level is placed at AUD 0.267.

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 primary downward trend, and trapped in a falling wedge pattern, a ‘Watch’ rating is given on this stock. The stock was analysed as per the closing price of AUD 0.245 per share on 30^th June 2022, down by 2.0%.

Monthly Technical Chart – COE

Source: REFINITIV

xReality Group Limited (ASX: XRG)

Incorporated in 2011, XRG created virtual reality (VR), augment reality (AR), physical and digital simulation for the defence, consumer leisure, and enterprise markets.

Technical Analysis: On the weekly chart, XRG prices are trading in a primary downward trend. Prices are currently taking resistance of a downward sloping trend line that indicates prices might decline further in the coming period. Also, the prices are trading below its 21-period SMA that further support our watch stance in the stock. The momentum oscillator, RSI (14-period) is trading at ~38.89, further indicates that the stock is trading in a weak zone. An important support level for the stock, is placed at AUD 0.026 while the key resistance level is placed at AUD 0.034.

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 primary downward trend, and momentum indicator analysis, a ‘Watch’ rating is given on this stock.  The stock was analysed as per the closing price of AUD 0.029 per share on 30^th June 2022, down by ~3.33%.

Weekly Technical Chart – XRG

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 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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