Small-Cap

Technical Analysis on One ASX-Listed Stock – MYE

November 21, 2024 | Team Kalkine
Technical Analysis on One ASX-Listed Stock – MYE
Image source: shutterstock

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

Company Overview: Metarock Group Limited (ASX: MYE) provides mine development, mine operation and all support service and products to tier one mine operators and niche asset owners. Listed on ASX in 2010, MYE’s projects include ulan west mine, aquila mine, integra mining service, broadmeadow, grosvenor, wambo mine and moranbah mine. This report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

MYE’s Technical Observation:

MYE's stock closed at AUD 0.1625, staying above a key horizontal support level, signaling the potential for a bullish reversal. This suggests strength and a possible upward move. The Relative Strength Index (RSI) at 45.2893 indicates moderate bullish momentum, with a bullish divergence as lower lows are accompanied by higher RSI lows, pointing to further gains without reaching overbought conditions. The stock also trades above the 21-period Simple Moving Average (SMA), providing near-term support. Key support levels are at AUD 0.1325 and AUD 0.1150, while resistance is seen at AUD 0.1925 and AUD 0.2100.

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