Sayona Mining Limited

Sayona Mining Limited (ASX: SYA) is a lithium-focused exploration company with projects in Quebec, Canada, and Western Australia. The current market capitalization as of 20^th December 2022 stood at AUD 1.82bn.

Technical Analysis: On the daily chart, SYA prices are facing resistance at the falling trendline, indicating the possibility of further downside movement hereon. The momentum oscillator RSI (14-period) is below the mid-point and shows a reading of ~39.528. Further, the prices are trading below the trend-following indicators 21- period and 50-period SMA, which may act as resistance zones in the near term. An important support level for the stock is AUD 0.18, while the key resistance level is AUD 0.22.

Considering the company’s current price levels are sustaining below the falling trendline, momentum oscillator analysis, it is prudent to recommend a 'Watch' rating on this stock. The stock was analyzed at the closing price of AUD 0.20 per share on 20^th December 2022, down ~4.76%.

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.

Daily Technical Chart – SYA

EcoGraf Limited

EcoGraf Limited (ASX: EGR) is engaged in building a vertically integrated business to produce high purity graphite for the lithium-ion battery markets. The current market capitalization as of 20^th December 2022 stood at AUD 99.07mn.  

Technical Analysis: On the daily chart, EGR prices are facing resistance at the falling trendline, indicating the possibility of further downside movement hereon. The momentum oscillator RSI (14-period) is placed in the oversold region and shows a reading of ~17.896. Further, the prices are trading below the trend-following indicators 21- period and 50-period SMA, which may act as resistance zones in the near term. An important support level for the stock is AUD 0.192, while the key resistance level is AUD 0.240.

Considering the company’s current price levels are sustaining below the falling trendline, momentum oscillator analysis, it is prudent to recommend a 'Watch' rating on this stock. The stock was analyzed at the closing price of AUD 0.215 per share on 20^th December 2022, down 2.27%.

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.

Daily Technical Chart – EGR

Note: EcoGraf Limited (Company) is a client of Kalkine Media Pty Ltd (Kalkine Media), an affiliate of Kalkine. However, under no circumstances have Kalkine or its related entities been, directly or indirectly influenced in making any related insights concerning Company as contained in this report, and no form of compensation is or will be received by Kalkine, Kalkine Media or Kalkine’s other related entities for the publication of this report.

Nagambie Resources Limited

Nagambie Resources Limited (ASX: NAG) is an Australia-based company that is engaged in the exploration and development of gold and related minerals.

Technical Analysis: On the daily chart, NAG’s stock prices are facing the resistance of the horizontal resistance line on the upside, indicating the possibility of a downward move hereon. Moreover, RSI (14-period) is trading below the midpoint and showing a reading of 47.583 and supporting a downside movement. The prices are trading below the trend-following indicators 21-period and 50-period SMA, which may act as a resistance level for the stock. An important support level for the stock is placed at AUD 0.062, while the key resistance level is placed at AUD 0.080.

Considering the company’s current price levels facing resistance at the horizontal resistance line, momentum oscillator analysis, a ‘Watch’ recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.070 per share as on 20^th December 2022.

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.

Daily Technical Chart – NAG

Falcon Metals Limited (ASX: FAL)

Falcon Metals Limited is a gold exploration company with projects in Western Australia and Victoria. It operates three mines- Viking Gold Project, Pyramid Hill Gold Project, and Mt Jackson Gold Project.

Fundamental Insights: FAL received high-grade aircore results from the initial drilling program at its Pyramid Hill Project conducted on July 15, 2022. In recent news, it had commenced 3-hole diamond drilling at the Viking Gold project in Western Australia. Drilling is expected to be completed in 1QFY23. For three months ending September 30, 2022, FAL expensed AUD 0.78mn towards exploration and evaluation activities and incurred operating cash outflows of AUD 707k in 1QFY23. It closed the period with a cash balance of AUD 24.25mn.

Technical Analysis: The stock was listed in ASX on December 22, 2021, and due to the limited availability of trading data, it is not possible to conduct technical analysis on the stock.

Considering nil revenue generating assets, negative operating cash flows in 1QFY23, and lack of technical analysis, it is prudent to recommend a ‘Watch’ stance on the stock. The stock was analysed as per the closing price of AUD 0.280 as of December 20, 2022, up ~7.69%.

Daily Technical Chart – FAL

Note 1: Past performance is neither an Indicator nor a guarantee 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.

Disclaimer  

This report has been issued by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and prepared by Kalkine and its related bodies corporate authorised to provide general financial product advice. Kalkine.com.au and associated pages are published by Kalkine. 

Any advice provided in this report is general advice only and does not take into account your objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your objectives, financial situation and needs before acting upon it. 

There may be a Product Disclosure Statement, Information Statement or other offer document for the securities or other financial products referred to in Kalkine reports. You should obtain a copy of the relevant Product Disclosure Statement, Information Statement or offer document and consider the statement or document before making any decision about whether to acquire the security or product. 

You should also seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice in this report or on the Kalkine website. Not all investments are appropriate for all people. 

The information in this report and on the Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of information contained in its reports, newsletters and websites. All information represents our views at the date of publication and may change without notice. 

Kalkine does not guarantee the performance of, or returns on, any investment. To the extent permitted by law, Kalkine excludes all liability for any loss or damage arising from the use of this report, the Kalkine website and any information published on the Kalkine website (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine hereby limits its liability, to the extent permitted by law, to the resupply of services. 

Please also read our Terms & Conditions and Financial Services Guide for further information. 

On the date of publishing this report (referred to on the Kalkine website), employees and/or associates of Kalkine and its related entities do not hold interests in any of the securities or other financial products covered on the Kalkine website unless those persons comply with certain safeguards, procedures, and disclosures. 

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.