Rex Minerals Ltd. (ASX: RXM)

RXM is a minerals exploration and development company. The company is known for its Hillside project, which is in South Australia, where RXM deals with large-scale copper-gold projects.

Technical Analysis: On a monthly chart, RXM prices took support of a downward sloping trendline and are trying to reverse to upside from past one month. Prices are also trading below its 21-period SMA that is acting as a resistance zone. Moreover, the momentum oscillator RSI (14-period) is showing some upsides move from lower level and currently trading at moderate zone at ~42.95, indicating positive for stock price. An important support level for the stock, is placed at AUD 0.135 while the key resistance level is placed at AUD 0.175.

Considering the company’s current price levels taking support of a downward sloping trend line, trend indicator analysis, it is prudent to invest in this stock at closing price levels; hence a ‘Speculative Buy’ recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.150 per share on 26^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.

Monthly Technical Chart – RXM

Kingwest Resources Limited (ASX: KWR)

KWR is an Australian company involved in mining, exploration, and development of gold in Eastern Gold Fields Region of Western Australia. Its major projects comprise of Menzies Gold Project (MGP) and Goongarrie Gold Project (GGP).

Technical Analysis: On a weekly chart, KWR prices are facing resistance at higher levels and trading with a weak bias. The momentum oscillator RSI (14-period) is below the midpoint level and showing a reading of ~33.405.  An important support level for the stock is placed at AUD 0.058 while the key resistance level is placed at AUD 0.073.

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 moving in a small range, 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 0.065 per share, down by ~1.515%, as on 26^th July 2022.

Weekly Technical Chart – KWR

Classic Minerals Limited (ASX: CLZ)

CLZ is engaged in the exploration of minerals in Australia and its key projects include the Fraser Range project, Doherty's project and Cowarna Rocks project.  The company primarily explores gold and nickel. The company was incorporated in 2006 and headquartered in Landsdale, Australia.

Technical Analysis: On a weekly chart, CLZ prices are facing resistance at the downward sloping trendline, and trading with a weak bias. The momentum oscillator RSI (14-period) is below the midpoint level and showing a reading of ~8.932.  An important support level for the stock is placed at AUD 0.034 while the key resistance level is placed at AUD 0.044.

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 moving in a small range, 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 0.039 per share, down by ~2.500%, as on 26^th July 2022.

Weekly Technical Chart – CLZ

BIR Financial Ltd (ASX: BIR)

BIR is a financial services company based in Australia. The company provides services including transacting equity and derivatives, raising capital to institutional, private and corporate clients.

Technical Analysis: On the weekly chart, BIR prices are trading in a primary downward trend. Prices are currently taking resistance of a downward sloping trend line that further support the watch recommendation. The momentum oscillator, RSI (14-period) is trading at moderate zone at ~49.30, further indicates indecision in the stock prices. An important support level for the stock, is placed at AUD 0.020 while the key resistance level is placed at AUD 0.030.

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 taking resistance of a downward sloping trend line, momentum oscillator analysis, it is prudent for the individuals to ‘Watch’ this stock. The stock was analysed as per the closing price of AUD 0.025 per share on 26^th July 2022, settled unchanged from the prior closing.

Weekly Technical Chart – BIR

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 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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