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This report is an updated version of the report published on 24 December 2024 at 12:53PM AEDT.
Archer Materials Limited (ASX: AXE)
Archer Materials Limited (ASX: AXE) engages in the development and commercialization of semiconductor devices, and processor chips related to quantum computing and medical diagnostics in Australia, which primarily focuses on the development of qubit processor chip, that operates at room temperature and integrate into modern electronics, and graphene-based lab-on-a-chip biochip technology.
Recommendation Rationale – SELL at AUD 0.440
AXE Daily Chart
Considering that the stock is trading near to its R1 level, rally in share price movement, current trading level, and risks associated, it is prudent to book profit on the stock at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current price of AUD 0.440 (as of 24 December 2024, at 11:32 AM AEDT).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 24 December 2024. 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.
Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
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.
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