Sayona Mining Ltd. (ASX: SYA)

SYA is a lithium focused mineral exploration company. The company flagship project includes Authier Lithium project in Quebec, Canada and Tansim Lithium Project in Canada.  

Technical Analysis: On a weekly chart, SYA prices broke a downward sloping trend line by upside and the prices are sustaining above the breakout level from past one week. Moreover, the momentum oscillator RSI (14-period) is picking up momentum from lower levels and trading at ~44.919, indicating positive for stock price. An important support level for the stock, is placed at AUD 0.130 while the key resistance level is placed at AUD 0.185.

Considering the company’s current price levels with upside breakout, trend indicator analysis, it is prudent to invest in this stock at closing price levels; hence a ‘Speculative Buy’ recommendation is given. The stock was analysed as per the closing price of AUD 0.150 per share on 19^th July 2022, up by 3.45% from the prior closing.

Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Weekly Technical Chart – SYA

SYA Weekly Technical Chart, Data Source: REFINITIV

Bathrust Resources Ltd (ASX: BRL)

BRL is of the major coal producers in New Zealand, listed in ASX. It also exports world-class high-grade coal to nations such as India, Asia and Japan.

Technical Analysis: On the daily chart, BRL prices are getting support of an upward sloping trend line and sustaining above its 21-period SMA that further support our bullish stance. The momentum oscillator, RSI (14-period) is trading at ~50.91, further indicates positive momentum in the stock prices. An important support level for the stock, is placed at AUD 1.025 while the key resistance level is placed at AUD 1.31.

Considering the company’s current price levels with upside breakout, momentum oscillator analysis, it is prudent to invest in this stock at closing price levels; hence a ‘Speculative Buy’ recommendation is given. The stock was analysed as per the closing price of AUD 1.1250 per share on 19^th July 2022, up by 7.14% from the prior closing.

Daily Technical Chart – BRL

BRL Daily Technical Chart, Data Source: REFINITIV

Galileo Mining Ltd (ASX: GAL)

Galileo Mining Ltd is an Australia-based mining and exploration company that is involved in the development and exploration of cobalt, nickel laterite, and nickel-copper-cobalt sulfide projects.

Technical Analysis: On a Weekly chart, GAL prices are falling from the recent highs and settled at 1.210 on July 19, 2022. The momentum oscillator RSI (14-period) is falling from the overbought zone and showing a reading of ~61.689. An important support level for the stock is placed at AUD 1.080 while the key resistance level is placed at AUD 1.350.

Individuals 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 falling from the recent highs, and momentum indicator analysis, it is prudent for the individuals to ‘watch’ this stock. The stock was analysed as per the closing price of AUD 1.210 per share on 19^th July 2022, down by 0.411%.

Weekly Technical Chart – GAL

Dusk Group Limited (ASX: DSK)

Dusk Group Limited is an Australia-based home fragrance retailer that is engaged in the business of candles, ultrasonic diffusers, reed diffusers, essential oils, and fragrance-related household items.

Technical Analysis: On the weekly chart, DSK prices are getting resistance of 21-period SMA after the prices have shown some upside retracement from lower levels. The momentum oscillator, RSI (14-period) is trading at ~44.535, further indicating weak momentum in the stock prices. An important support level for the stock is placed at AUD 1.90 while the key resistance level is placed at AUD 2.40.

Individuals 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 below its 21-period SMA, and momentum indicator analysis, it is prudent for the individuals to ‘watch’ this stock. The stock was analysed as per the closing price of AUD 2.140 per share on 19^th July 2022, up by 1.421%.

Weekly Technical Chart – DSK

Note 1: 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 2: Related Risks: This report may be looked at from high-risk perspective. 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 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 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 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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