Grange Resources Ltd. (ASX: GRR)

GRR is a mining and property development company. The company engaged in Iron ore mining and pellet production business.   

Technical Analysis: On a daily chart, GRR prices took support of a horizontal trendline level of AUD 1.155 and are trending up from key support level from past several days. Prices are also trading above its 21-period SMA that also support bullish stance. Moreover, the momentum oscillator RSI (14-period) is picking up momentum from lower levels and trading at ~53.48, indicating positive for stock price. An important support level for the stock, is placed at AUD 1.150 while the key resistance level is placed at AUD 1.500.

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 suggested. The stock was analysed as per the closing price of AUD 1.290 per share on 22^nd July 2022, up by 1.57% 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.

Daily Technical Chart – GRR

Telix Pharmaceuticals Ltd (ASX: TLX)

TLX is an Australian radiopharmaceutical company which was listed on ASX on 15^th November 2017. To treat cancer, TLX uses Molecularly Targeted Radiation (MTR) and develops diagnostic and therapeutic products.

Technical Analysis: On the weekly chart, TLX prices witnessed good upside movement from lower levels. However, prices are now getting resistance of an upward sloping trend line that indicates stock might move downward in the coming sessions. The momentum oscillator, RSI (14-period) is trading near to overbought region at ~67.39, further indicates prices might witness some profit booking from key resistance levels. An important support level for the stock, is placed at AUD 6.160 while the key resistance level is placed at AUD 7.650.

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 near to an upward sloping trend line resistance, momentum oscillator analysis, it is prudent for the individuals to ‘Watch’ this stock. The stock was analysed as per the closing price of AUD 7.09 per share on 22^nd July 2022, up by ~5.51% from the prior closing.

Weekly Technical Chart – TLX

92 Energy Limited (ASX: 92E)

92E is a uranium exploration company. The company has projects in Canada that include Tower, Clover and Gemini.

Technical Analysis: On a Weekly chart, 92E stock price witnessed a breakout of the horizontal trendline, and prices are trading below the resistance level. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~40.24 level, indicating negative momentum. Further, the prices are trading below the trend-following indicator 21-period SMA, which may act as crucial resistance level. An important support level for the stock, is placed at AUD 0.350 while the key resistance level is placed at AUD 0.490.

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 with lower lows and lower highs formation, and momentum indicator analysis, it is prudent to suggest a ‘Watch’ stance on this stock. The stock was analysed as per the closing price of AUD 0.415 per share on 22^nd July 2022, down by 2.352%.

Weekly Technical Chart – 92E

OncoSil Medical Limited (ASX: OSL)

OSL is an Australian biotechnology company. To address unresectable locally advanced pancreatic cancer (LAPC), OSL uses its lead product, OncoSil to deliver a pre-determined dose of beta radiation directly into cancerous tissue.

Technical Analysis: On the weekly chart, OSL stock prices are trading below the falling trendline resistance zone and facing the resistance of the trendline. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~60.26 level. However, the prices are trading above the trend-following indicator 21-period & 50-period SMA, which may act as crucial support level. An important support level for the stock, is placed at AUD 0.050 while the key resistance level is placed at AUD 0.070.

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 stock’s current price levels placed at uncertainty, investing in this stock at the moment should be taken with a calculated approach; hence a ‘Watch’ stance is suggested. The stock was analysed as per the closing price of AUD 0.060 per share as on 22^nd July 2022, down by ~7.692%.

Weekly Technical Chart – OSL

Note 1: Past performance is not a reliable indicator 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. 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 Yellow & 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.

Disclaimer - This report has been issued by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and prepared by Kalkine and its related bodies corporate authorised to provide general financial product advice. Kalkine.com.au and associated pages are published by Kalkine.

Any advice provided in this report is general advice only and does not take into account your objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Statement or other offer document for the securities or other financial products referred to in Kalkine reports. You should obtain a copy of the relevant Product Disclosure Statement, Information Statement or offer document and consider the statement or document before making any decision about whether to acquire the security or product.

You should also seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice in this report or on the Kalkine website. Not all investments are appropriate for all people.

The information in this report and on the Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of information contained in its reports, newsletters and websites. All information represents our views at the date of publication and may change without notice.

Kalkine does not guarantee the performance of, or returns on, any investment. To the extent permitted by law, Kalkine excludes all liability for any loss or damage arising from the use of this report, the Kalkine website and any information published on the Kalkine website (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine hereby limits its liability, to the extent permitted by law, to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

On the date of publishing this report (referred to on the Kalkine website), employees and/or associates of Kalkine and its related entities do not hold interests in any of the securities or other financial products covered on the Kalkine website unless those persons comply with certain safeguards, procedures, and disclosures.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.