Greenwing Resources Ltd (ASX: GW1)

Greenwing Resources Ltd produces and sells industrial mineral concentrates as its business. GW1 holds a market capitalization of AUD 47.32mn as of 15^th of November 2022.

Fundamental Insights: GW1 holds two lithium projects and one graphite project. As announced on October 31, 2022, it had received AUD 12mn funding from placing shares to NIO Inc. for a 12.16% stake. In San Jorge Lithium project, GW1 conducted a Transient Electromagnetic geophysical survey. It plans to conduct drilling upon approval from authorities. It had updated mineral resources at its Graphmada Graphite Mining Complex with 6.19mn tonnes of graphite at 4.5% of fixed carbon. As of September 30, 2022, GW1 holds a cash balance of AUD 1.57mn.

Technical Analysis: On the weekly chart, GW1 prices are trading below the falling trendline resistance level and facing resistance of the same. The momentum oscillator RSI (14-period) is showing a reading of ~56.747 level. However, the prices are trading above the trend-following indicators 21- period SMA and 50- period SMA, which may act as support zone. An important support level for the stock is placed at AUD 0.344 while the key resistance level is placed at AUD 0.427.

Considering the company’s current price levels are sustaining below the falling trendline resistance zone, momentum oscillator analysis, it is prudent to recommend a ‘Watch’ rating on this stock. The stock was analysed as per the closing price of AUD 0.385 per share on 15^th November 2022, up ~2.666%.

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.

Weekly Technical Chart – GW1

Flynn Gold Limited (ASX: FG1)

Flynn Gold Limited operates in Australia as a mineral exploration firm. FG1 holds a market capitalization of AUD 10.45mn as of 15^th of November 2022.

Technical Analysis: On the weekly chart, FG1 prices are trading below the falling trendline resistance level and facing resistance of the same. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~46.61 level. Further, the prices are trading below the trend-following indicators 50- period SMA, which may act as resistance zone. An important support level for the stock is placed at AUD 0.0099 while the key resistance level is placed at AUD 0.122.

Considering the company’s current price levels are sustaining below the downward sloping trend, momentum oscillator analysis, it is prudent to recommend a ‘Watch’ rating on this stock. The stock was analysed as per the closing price of AUD 0.11 per share on 15^th November 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.

Weekly Technical Chart – FG1

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. 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.

Disclaimer - This report has been issued by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and prepared by Kalkine and its related bodies corporate authorised to provide general financial product advice. Kalkine.com.au and associated pages are published by Kalkine.

Any advice provided in this report is general advice only and does not take into account your objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Statement or other offer document for the securities or other financial products referred to in Kalkine reports. You should obtain a copy of the relevant Product Disclosure Statement, Information Statement or offer document and consider the statement or document before making any decision about whether to acquire the security or product.

You should also seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice in this report or on the Kalkine website. Not all investments are appropriate for all people.

The information in this report and on the Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of information contained in its reports, newsletters and websites. All information represents our views at the date of publication and may change without notice.

Kalkine does not guarantee the performance of, or returns on, any investment. To the extent permitted by law, Kalkine excludes all liability for any loss or damage arising from the use of this report, the Kalkine website and any information published on the Kalkine website (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine hereby limits its liability, to the extent permitted by law, to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

On the date of publishing this report (referred to on the Kalkine website), employees and/or associates of Kalkine and its related entities do not hold interests in any of the securities or other financial products covered on the Kalkine website unless those persons comply with certain safeguards, procedures, and disclosures.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.