Company Overview: Tyro Payments Limited (ASX: TYR) provides payment solutions to merchants through its two segments, Payments and Banking, which offers electronic funds transfer at point-of-sale solutions, business loans, and banking solutions. Cardno Limited (ASX: CDD) is a professional environmental services company engages in the development and improvement of social infrastructure for communities in Latin America. Infinity Mining Limited (ASX: IMI) engages in the exploration and evaluation of mineral properties, holding 100% interest in the Pilbara projects that comprise 14 exploration licenses covering an area of 781 square kilometres located in the Pilbara region of Western Australia. Lithium Power International Limited (ASX: LPI) engages in the identification, acquisition, exploration, and development of lithium assets in Chile and Australia. New World Resources Limited (ASX: NWC) engages in the exploration and redevelopment of mineral properties in North America, holding 100% interest in the Antler copper project situated near the east of Yucca in northwestern Arizona. Quantum Graphite Limited (ASX: QGL) engages in the exploration, mining, processing, and manufacture of flake graphite and related products in Australia, with its flagship project being the Uley Graphite project located on the Eyre Peninsula, South Australia. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these six stocks.

TYR’s Technical Analysis:

On the daily chart, while experiencing a short-term downtrend, the TYR stock price is testing a strong support at its previous low, anticipating a rebound. In addition, the RSI (14-period) is trading deep in the oversold region, adding further support for the aforementioned recommendation. Prices are trading below the 21-day SMA, which may act as a support and resistance level for the stock; in contrast, the stock’s previous low might function as a support.

Daily Technical Chart – TYR

Tyro Payments Limited (ASX: TYR) was last covered in a report dated ’28 November 2022’.

CDD’s Technical Analysis:

On the daily chart, the price of CDD's stock is forming a trading range charactered by a lower high and higher low, indicating that the sideways period on the stock is likely to continue to persist in the near future. In addition, the RSI (14-period) is oscillating around the midpoint, supporting the preceding statement. Prices are trading below the 50-day SMA, which may serve as a resistance level for the stock; in contrast, the stock’s most recent low might act as a support.

Daily Technical Chart – CDD

IMI’s Technical Analysis:

IMI's stock price is forming a trading range charactered by a lower high and higher low, indicating that the sideways period on the stock is likely to continue to persist in the near future. In addition, the RSI (14-period) is oscillating around the midpoint, supporting the preceding statement. Prices are oscillating between its previous peak and trough, which may function as resistance and support levels for the stock, respectively.

Daily Technical Chart – IMI

Infinity Mining Limited (ASX:IMI) was last covered in a report dated ’29 May 2023’.

LPI’s Technical Analysis:

On the daily chart, the LPI's stock prices are forming a short-term uptrend after breaking the 50-day SMA coupled with a break-away gap at the end of September 2023; nonetheless, the RSI (14-period) is trading deep in the overbought region, anticipating for a minor correction. Prices recently appeared in a run-away gap, which may serve as a support level for the stock; in contrast, the stock’s high established in September 2022 might act as a resistance.

Daily Technical Chart – LPI

Lithium Power International Limited (ASX: LPI) was last covered in a report dated ’01 June 2023’. 

NWC’s Technical Analysis:

On the daily chart, while experiencing a downtrend, the IRI's stock is testing a strong support established by the low of June 2022, anticipating a rebound. Prices are trading between its previous peak and trough, which may serve as resistance and support levels for the stock, respectively.

Daily Technical Chart – NWC

New World Resources Limited (ASX: NWC) was last covered in a report dated ’27 January 2023’.

QGL’s Technical Analysis:

On the daily chart, QGL's stock price is forming a trading range charactered by a lower high and higher low, indicating that the sideways period on the stock is likely to continue to persist in the near future. In addition, the RSI (14-period) is oscillating around the midpoint, adding further support for the mentioned observation. Prices are oscillating between its previous peak and trough, which may function as resistance and support levels for the stock, respectively.

Daily Technical Chart – QGL

Quantum Graphite Limited (ASX: QGL) was last covered in a report dated ’18 January 2023’.

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 October 24, 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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