Southern Cross Gold Ltd (ASX: SXG)

Southern Cross Gold Limited (SXG) is an Australia-based natural resource company that is engaged in the exploration of precious and basic minerals.

Technical Analysis: On a Daily chart, SXG prices are trading around the major support zone with a weak bias. GED prices are trading below the 21-period SMA, which may act as a resistance in the near term. The momentum oscillator, RSI (14-period) is trading below the midpoint and showing a reading of ~44.092, which may further support the prices in the near term. An important support level for the stock is placed at AUD 0.300 while the key resistance level is placed at AUD 0.400.

Investors 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.

Considering the company’s current price levels trading in a downward direction, and momentum indicator analysis, it is prudent to recommend a ‘Watch’ stance on this stock. The stock was analysed as per the closing price of AUD 0.350 per share on 12^th July 2022, down by 2.777%.

Daily Technical Chart – SXG

Aeris Environmental Ltd (ASX: AEI)

Aeris Environmental Ltd is an Australia-based company that develops, manufactures, and sells environmentally friendly technologies. AEI manufactures water treatment systems and bioactive films that improve the quality of climate-controlled environments.

Technical Analysis: On the weekly chart, AEI prices took support at lower levels and moved in a small range from the last few trading sessions. The momentum oscillator, RSI (14-period) is trading below the midpoint and showing a reading of ~35.96, which further indicates weakness in the stock prices. An important support level for the stock is placed at AUD 0.044 while the key resistance level is placed at AUD 0.058.

Investors 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.

Considering the company’s current price levels trading around the support zone, and momentum indicator analysis, it is prudent to recommend a ‘Watch’ stance on this stock. The stock was analysed as per the closing price of AUD 0.050 per share on 12^th July 2022, down by 1.960%.

Weekly Technical Chart – AEI

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

Note 2: 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.

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 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.

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