IOUpay Ltd. (ASX: IOU)

IOUpay Ltd. is an Australian-based company that offers financial technology and digital commerce software solutions and services.

Technical Analysis: On a weekly chart, IOU prices broke a downward sloping trend line by upside and the prices are sustaining above the breakout level from past two weeks. However, prices are trading below its 21-period SMA that is acting as an immediate resistance. Moreover, the momentum oscillator RSI (14-period) stood up from oversold region and trading at ~45.75, indicating positive for stock price. An important support level for the stock, is placed at AUD 0.084 while the key resistance level is placed at AUD 0.125.

Considering the company’s current price levels broke a downward sloping trend line by upside, momentum oscillator analysis, it is prudent to invest in this stock at closing price levels; hence a ‘Speculative Buy’ recommendation has been given on the stock. The stock was analysed as per the closing price of AUD 0.100 per share, as on 02^nd August 2022, up by ~9.89% 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 – IOU

IOUpay 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.

Lakes Blue Energy NL (ASX: LKO)

Lakes Blue Energy NL is an Australia-based company that is engaged in the exploration of oil and gas inside Australia and Papua New Guinea.

Technical Analysis: On a Daily chart, the LKO is a downward trend with a lack of volumes. The momentum oscillator RSI (14-period) is moving below the midpoint level and showing a reading of ~46.475. An important support level for the stock is placed at AUD 0.0005 while the key resistance level is placed at AUD 0.0015.

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 downtrend, and momentum indicator analysis, a 'Watch' recommendation has been given on the stock. The stock was analysed as per the closing price of AUD 0.001 per share, as on 2^nd August 2022. (Price unchanged)

Daily Technical Chart – LKO

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 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 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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