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courtesy of Daquella Manera on flickr |
The following five mining shares are technically weak on a medium-term timescale. Remember that technical analysis is only one facet to be considered when investing in a share and that fundamental reasons can lead to certain trends not being fulfilled. Despite this, technical analysis can be very useful and should be at least considered when choosing an entry point. Click any of the charts for a large version.
1 -
Baobab Resources (LSE:BAO). Current price = 19.39p
2 -
Berkeley Minerals (LSE:BMR). Current price = 2.35p
3 -
Coal Of Africa (LSE:CZA). Current price = 13.25p
4 -
Medusa Mining (LSE:MML). Current price = 274.5p
5 -
Arian Silver (LSE:AGQ). Current price = 10.25p
Additional Request. Beowulf Mining (LSE:BEM). Current price = 9.5p
thanks and good call on metminco. See you have changed it to neutral now the target is met.
ReplyDeleteCraigJ
It will be interesting to see how baobab turns out. I hold some but dispose of half on thursday.
ReplyDeleteAdvfnposter
Thanks for this. I would appreciate if you could add BEM to this list as well. I would like to see your view on it as I hold BEM and recently it has fallen.
ReplyDeleteBEM has fallen as per unexpected item in RNS i.e. they need to drill further 11km (40 holes) at Kallak North. Do they have money do that? Elite, where does it stand technically on charts?
ReplyDeleteHi there,
DeleteCash burn last year was 2.4m so if that is maintained they will almost certainly need to raise cash in 2014. Should be ok for 2013 though by the looks of it. Depends how aggressively they want to accelerate the operational work.
El1te
Thanks, any thoughts on how SP will perform this year?
DeleteGreat, thanks for putting up BEM analysis chart.
DeleteHi El1te,
ReplyDeleteYou were spot on with BAO, it did decline to 14 or so.
BEM seems to have lost its weak 8p support, any idea whats its next support?
Thanks
Hi there,
DeleteThe result is that BEM could realistically continue its decline to around 5.75 - 6.00p on a short/medium term basis.
El1te
Thanks for your response El1te, much appreciated.
Deletethanks and good call on BEM
ReplyDeletewill be good a details analysis on bem
ReplyDelete