Company Overview: Kogan.com Limited (ASX: KGN) operates a portfolio of retail and services businesses whose success is built off technology and digital efficiency to make the most in-demand products and services more affordable and accessible. Arafura Rare Earths Limited (ASX: ARU) produces rare earth products from the Nolans Project, which consists of a mine, process plant, including beneficiation, extraction and separation plants, and related infrastructure. Recce Pharmaceuticals Limited (ASX: RCE) engages in the development and commercialization of a new class of synthetic anti-Infectives designed to address the urgent global health problems of antibiotic-resistant superbugs and emerging viral pathogens. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

Kogan.com Limited (ASX: KGN)

Technical Analysis:

On July 16, 2023, KGN's price broke above a symmetrical triangle pattern on the daily chart, signalling a positive trend. Since then, the stock has been creating higher peaks and higher lows, indicating that the short-term uptrend remains intact. Additionally, the RSI (14-period) is above the midpoint, supporting positive bias. Prices are trading above the 21-period and 50-day SMAs, which may function as dynamic support levels for the stock. Crucial support for the stock is positioned at AUD 5.73, while key resistance is placed at AUD 6.80.

Daily Technical Chart – KGN

Considering the stock’s current price levels forming higher peaks and higher lows, and technical indicator analysis, a 'Speculative Buy' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 6.19 per share as on 20 Jul 2023, up by 1.98%. Kogan.com Limited (ASX: KGN) was last covered in a report dated ‘28 July 2022'.

Arafura Rare Earths Limited (ASX: ARU)

Technical Analysis:

ARU's price are consolidating around a crucial support, indicating the possibility of a sideways to negative movement. Additionally, the RSI (14-period) is hovering around the midpoint, further reinforcing a sideways direction. Prices are trading below both the 21-period and 50-period SMAs, which may act as dynamic resistance levels for the stock; in contrast, the stock’s most recent low might act as a support level. Important support for the stock is at AUD 0.280, while critical resistance is at AUD 0.343.

Daily Technical Chart – ARU

Considering the stock’s current price levels moving sideways, and technical indicator analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.315 per share as on 20 Jul 2023, down by 1.56%. Arafura Rare Earths Limited (ASX: ARU) was last covered in a report dated ‘09 January 2023'.

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.

Recce Pharmaceuticals Limited (ASX: RCE)

Technical Analysis:

On the daily chart, RCE's price is exhibiting higher peaks, yet it is also accompanied by lower lows, suggesting that the stock may enter a sideways phase. Moreover, the RSI (14-period) is trending downwards from the overbought region, further supporting the previously mentioned observation. Prices are trading above both the 21-period and 50-period SMAs, which may serve as dynamic support levels for the stock; in contrast, the stock’s most recent high might act as a resistance level. Important support for the stock is positioned at AUD 0.635, while key resistance is placed at AUD 0.785.

Daily Technical Chart – RCE

Considering the stock’s current price levels moving sideways, and technical indicators analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.695 per share as on 20 Jul 2023, down by 6.71%. Recce Pharmaceuticals Limited (ASX: RCE) was last covered in a report dated '15 February 2022'.

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.

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.

The reference date for all price data, currency, technical indicators, support, and resistance levels is July 20, 2023. The reference data in this report has been partly sourced from REFINITIV.

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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