Company Overview: Core Lithium Limited (ASX: CXO) is involved in the exploration of copper, gold, iron, silver, uranium, lead, and zinc deposits, as well as the commercialization of lithium and various metal deposits. Emeco Holdings Limited (ASX: EHL) is predominantly engaged in providing its clients with earthmoving equipment solutions and mining services solutions. Legend Mining Limited (ASX: LEG) is an exploration company engaged in nickel and copper deposit exploration in Australia. Integrated Research Limited (ASX: IRI) provides performance management solutions for payment transactions and collaborative systems. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these four stocks. 

CXO’s Technical Analysis:

After forming a bullish divergence relative to the RSI (14-period), CXO's price broke above the upper band of a falling wedge on the daily chart, indicating a positive bias. In addition, the RSI (14-period) is above the midpoint and rising, which supports the recommendation. Prices are trading above the 21-day SMA but below the 50-day SMA, which may act as support and resistance levels, respectively.

Daily Technical Chart – CXO

Core Lithium Limited (ASX: CXO) was last covered in a report dated '06 April 2023'. 

EHL’s Technical Analysis:

On the daily chart, EHL's price is consolidating in a symmetrical triangle pattern, indicating the possibility that the stock is likely to continue the sideways trend in the near future. In addition, the RSI (14-period) is hovering around the midpoint with a reading of 47.60. Prices are trading above the 21-day SMA but below the 50-day SMA, which may serve as support and resistance levels, respectively.

Daily Technical Chart – EHL

Emeco Holdings Limited (ASX: EHL) was last covered in a report dated '19 August 2022'. 

LEG’s Technical Analysis:

On the daily chart, the LEG’s price is forming a rectangular pattern, indicating that sideways trading is likely to continue in the short term. In addition, the RSI (14-period) is trading below the midpoint and trending south, indicating that the stock may continue to decline to the pattern's lower boundary before recovering. The stock is trading below its 21-day and 50-day SMAs, which may act as resistance levels for the stock.

Daily Technical Chart – LEG

Legend Mining Limited (ASX: LEG) was last covered in a report dated '06 February 2023'. 

IRI’s Technical Analysis:

On the daily chart, the IRI's price is forming a broadening pattern, indicating that the stock's trading range may persist in the near future. In addition, the RSI (14-period) is trading below the midpoint, indicating that the stock price may continue to decline to the pattern's lower boundary before rebounding. Prices are trading below the 21-day and 50-day SMAs, which may serve as resistance levels for the stock.

Daily Technical Chart – IRI

Integrated Research Limited (ASX: IRI) was last covered in a report dated '31 October 2022'.  

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. 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: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

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.

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 Orange/ 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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