Small-Cap

Technical Analysis on One ASX-Listed Stock – COI

November 15, 2024 | Team Kalkine
Technical Analysis on One ASX-Listed Stock – COI
Image source: shutterstock

COI:ASX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (AU$)

Company Overview:  Comet Ridge Limited (ASX: COI) is an ASX-listed energy company focused on the development of natural gas resources for the strained east coast Australian market. It has tenement interests and a suite of prospective projects in Queensland. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

COI’s Technical Observation:

COI's stock is closed at AUD 0.165, holding above a critical horizontal support level, signaling the potential for a bullish reversal. The stock's position above this support area reflects strength and suggests it could be gearing up for an upward move. The Relative Strength Index (RSI) at 55.493 indicates moderate bullish momentum, with room for further gains without reaching overbought territory. Additionally, the stock is trading above the 21-period Simple Moving Average (SMA), which could serve as near-term support. Key support levels are at AUD 0.140 and AUD 0.120, while resistance is around AUD 0.190 and AUD 0.210.

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