FYI Resources Limited

FYI Resources Limited (ASX: FYI) specialises in the production of integrated alumina for usage in several technological applications. High Purity Alumina (HPA) Exploration and Evaluation in Australia and Potash Exploration and Evaluation in Asia are two of the company's business and geographic sectors.

Technical Analysis:

On the daily chart, after penetrating an important support level of AUD 0.130 by a breakaway gap on 22 Feb 2023, FYI's prices have been in a rebound from its lowest low since July 2020. However, the prices are still trading below the gap's territory and are likely to enter a trading range. Moreover, RSI (14-period) is trading below the midpoint and showing a reading of 32.20. The prices are trading below the trend-following indicators 21-period and 50-period SMAs, which may act as the resistance levels for the stock. An important support level for the stock is placed at AUD 0.064, while the key resistance level is placed at AUD 0.077.

Daily Technical Chart – FYI

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 facing 21-Day SMA resistance, gap resistance and momentum oscillator analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.070 per share as on 20 Mar 2023, up by 2.94%.

Disclosure: FYI Resources Limited (Company) is a client of Kalkine Media Pty Ltd (Kalkine Media), an affiliate of Kalkine. However, under no circumstances have Kalkine or its related entities been, directly or indirectly influenced in making any related insights concerning Company as contained in this report, and no form of compensation is or will be received by Kalkine, Kalkine Media or Kalkine’s other related entities for the publication of this report.

Jervois Global Ltd

Jervois Global Ltd (ASX: JRV) is engaged in mineral property exploration, development, and production. The corporation is also involved in mine building, refining, and manufacturing chemicals and powders.

Technical Analysis:

On the daily chart, JRV’s prices are facing the resistance of a falling trendline, indicating the possibility of a downward move hereon. The RSI (14-period) is showing a reading of 19.55, the lowest level since June 2019, indicating the possibility of having a minor rebound starting in the near term. Moreover, the prices are trading below the trend-following indicator 21-period SMA, which may act as a resistance level for the stock. An important support level for the stock is AUD 0.115, while the key resistance level is AUD 0.145.

Daily Technical Chart – JRV

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 facing a downward sloping trendline resistance and momentum oscillator analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.130 per share, as on 20 Mar 2023, remained unchanged.

Resource Base Limited

Resource Base Limited (ASX: RBX) specialises in acquiring and advancing exploration projects. Its Black Range Project encompasses roughly 124 square kilometres (km2), and Mitre Hill Project encompasses approximately 1,509 square kilometres (km2).

Technical Analysis:

On the daily chart, although having been in a short-term rally, RBX's price moved below the 21-day SMA, indicating that the stock may enter a trading range. In addition, the RSI (14-period) is showing a modest price momentum while trading slightly over the midpoint with a value of 51.730. However, the prices are trading above the trend-following indicator 50-period SMA, which may act as a support level for the stock. An important support level for the stock is AUD 0.120, while the key resistance level is AUD 0.150.

Daily Technical Chart – RBX

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 facing 21-Day SMA resistance and momentum oscillator analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.135 per share, as on 17 Mar 2023, remained unchanged.

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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