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This report is an updated version of the report published on the 2 April 2024 at 3:55 PM AEDT.
Alligator Energy Limited (ASX: AGE)
Alligator Energy Limited (ASX: AGE) is an Australian exploration company. The firm engaged in uranium and energy other minerals, principally cobalt and nickel. The Company's projects include Samphire, Big Lake, Alligator Rivers (ARUP) and Piedmont.
Recommendation Rationale – SELL at AUD 0.0635
AGE Daily Chart
Considering that the stock is trading near to its R2 level, the current trading levels, rally in share price movement, 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 market price of AUD 0.0635, at 10:15 AM as of April 02, 2024, AEDT.
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 April 02, 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.
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 any unfavourable movement in the stock prices.
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