Small-Cap

Technical Analysis Update on One ASX-Listed Stock – BRE

November 29, 2024 | Team Kalkine
Technical Analysis Update on One ASX-Listed Stock – BRE
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BRE:ASX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (AU$)

Company Overview: Brazilian Rare Earths Limited (ASX: BRE) focuses on exploring for rare earth elements and other critical minerals, holding interests in approximately 1,410 km² of exploration permits within the Rocha da Rocha Rare Earths Province in the state of Bahia, Brazil. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on this stock.

BRE’s Technical Analysis:

On the daily chart, BRE stock price established a downtrend after penetrating an upward slope trendline as well as forming lower lows and lower highs. In contrast, the stock is rebounding from its previous trough, anticipating a minor rally. Additionally, the RSI (14-period) is fluctuating trading deep in its oversold region, providing further support for the mentioned recommendation. Prices are trading below both the 21-period and 50-day SMAs, which may potentially function as dynamic resistance levels for the stock; in contrast, the stock’s most recent low might act as a resistance level. Critical support for the stock is positioned at AUD 1.94, while key resistance is placed at AUD 2.40

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