Global Lithium Resources Limited

Global Lithium Resources Limited (ASX:GL1) is an Australia-based lithium exploration company. As per the previous recommendation on GL1 as on 5^th September 2022, a ‘Speculative Buy’ rating was given on the stock at AUD 1.690, and noted below are the details of support and resistance provided in the previous report:

GL1’s Daily Chart

GL1 Daily Technical Chart, Data Source: REFINITIV

Considering the resistance and target level achievement, current trading levels and risks associated, it is prudent to book profit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current price of AUD 2.800, 12:00 PM (GMT+10), Sydney, Eastern Australia, as of September 15, 2022.

Red Dirt Metals Limited

Red Dirt Metals Limited (ASX: RDT) is focused on the exploration and development of gold projects in Western Australia and the company is based in Australia. As per the previous recommendation on RDT as on 5^th August 2022, a ‘Speculative Buy’ rating was given on the stock at AUD 0.440, and noted below are the details of support and resistance provided in the previous report:

RDT’s Daily Chart

RDT Daily Technical Chart, Data Source: REFINITIV

Considering the resistance and target level achievement, current trading levels and risks associated, it is prudent to book profit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current price of AUD 0.715, 2:55 PM (GMT+10), Sydney, Eastern Australia, as of September 15, 2022.

Lithium Energy Limited 

Lithium Energy Limited (ASX: LEL) is s an Australia-based battery minerals company, working on two exploration and development projects, the Solaroz Lithium Project in Argentina and the Burke Graphite Project in Queensland. As per the previous recommendation on LEL as on 14^th June 2022, a ‘Speculative Buy’ rating was given on the stock at AUD 0.835, and noted below are the details of support and resistance provided in the previous report:  

LEL’s Daily Chart

LEL Daily Technical Chart, Data Source: REFINITIV

Considering the resistance and target level achievement, current trading levels and risks associated, it is prudent to book profit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current price of AUD 1.370, 12:10 PM (GMT+10), Sydney, Eastern Australia, as of September 15, 2022.

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

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is September 15, 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: 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 where-in 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 where-in the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

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

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