Vanadium Resources Limited

Vanadium Resources Limited (ASX: VR8) engaged in Steelpoordrift Vanadium Project in South Africa. Other project is Quartz Bore Project is in Western Australia. As per our previous recommendation on VR8 as of November 12, 2021, we recommended a ‘Speculative Buy’ rating on the stock at ~$0.070, and noted below are the details of support and resistance provided in our previous report:

Recommendation Summary as on November 12, 2021

VR8’s Daily Technical Chart

 Source: REFINITIV

Considering the resistance and target level achievement, trading at higher levels and risks associated, we are of the view that it is prudent to book profit at the current levels. Hence, we give a 'Sell' rating on the stock at the closing price of $0.098, down by ~10.910%, as of April 05, 2022.  

NOTE: Vanadium Resources 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 recommendation 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. 

Arafura Resources Limited

Arafura Resources Limited (ASX: ARU) is a leading supplier of rare earth elements (REE) globally. The company supplies two high values REEs: Neodymium and Praseodymium (NdPr). As per our previous recommendation on ARU as of January 21, 2022, we recommended a ‘Speculative Buy’ rating on the stock at ~$0.230, and noted below are the details of support and resistance provided in our previous report:

Recommendation Summary as on January 21, 2022

ARU’s Daily Technical Chart

Source: REFINITIV

Considering the resistance and target level achievement, bearish engulfing candlestick pattern and RSI overbought levels and risks associated, we are of the view that it is prudent to book profit at the current levels. Hence, we give a 'Sell' rating on the stock at the closing price of $0.420, down by ~6.667%, as of April 05, 2022.

Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.

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

Note 2: Exit decision should be made depending on the investors’ appetite on upside potential, risks, holding duration, and any previous holdings. 

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 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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