Neometals Ltd. - Penny Stock - Golden Zone - - 93 % correction
- Near golden zone (log view)
- Monthly RSI --> entry level
- Stoch RSI is reset
- News with Mercedes
--> My guess B wave is incoming
NMT trade ideas
NMT things are looking upThis picture tells a lot. For the sake of simplifying the chart I have removed money flow which is also positive (as of the last few days).
If you look at extreme volume over the last few months, it has always occurred at the topside of a mean - that is, distribution. The downtrend abated on the 20th March (with supporting volume on the 17th and 20th enough to arrest the decline). This was extreme volume at the bottom side of a mean - so something has shifted. The grey Stochastics showed some trading interest from this which then peaked on the 14th April and there was no follow through on the longer term stochastic (in blue). Heavy supporting volume arrived on Wed 26th in the same buy zone as the 17th March. Due to the last couple of days, I'll go on a limb and say this stock is now being supported at these levels (Accumulation).
Some more obvious things to think about:
The downtrend has abated with a basing pattern underway. The first run out of the block on the 20th March received little long term support but you often see that after a downward trend. There's now a positive divergence on the fast Stochastic from March 17th.
There's no heavy supply until 80c.
A break of 65c would be very constructive.
NB: this is not to be construed as financial advice. This is very early days in a potential turnaround.
Neo Metals - Ready to resume uptrend or?NMT looks to have broken out of resistance. Above average volume has come through.
Could be ready to run nicely. Looks a nice risk reward trade
Australias Neometals Pursuing Lithium-ion Battery RecyclingASX listed Neometals has had a good run over the last 12 months up over some 358% over the last 12 months.
From their website their main focuses are on Lithium-ion Battery Recycling recovering cobalt and other valuable materials from spent and scrap lithium batteries as well as Vanadium exploration and recovery from slag.
Share price is still under $1 but back at a resistance area. Will be interesting to watch to see if it breaks through and continues to run.
$NMT- Strong volume, bottom fished this stock #LithiumNMT bought at 0.710, bottom fished this. So far maintaining the trend line upwards, hoping to see a break of ATH and continue uptrend
NMT - Broken monthly highsNMT - battery recycling - important industry....
Looking for a re-test of the 0.50c monthly level and 4HR demand zone.
$NMT breaking 41.5 on volume. VCP setup. Minervini VCP like setup. small flag on lower timeframes and a strong finish be very telling for this break.
NMT bouncing from 50d MANeometals today bounced from the 50d MA, and is still priced under some recent director buying activity at 38c. Expecting this to test highs of over 40s in medium term.
$NMT - great eg of the need for a time stop and correct alertsI stopped out on the red candle circled, but had the follow up alert set and after the last four days 25/25.5 was perfect buy point. Don't give up if you fail the first time. There was probably a very good reason you entered, and timing is everything!
After trading a bit ordinary this nickle, lithium/battery play looks very positive for '21. Sometimes theyre just too compelling to ignore whilst packing up the tent.
NMT - lithium miner preparing for new uptrend?Good volume last week. Looking to go long with weekly close above 0,32, ideally with volume.
Second choice is at the base of triangle.
Sorry, the chart is too enlarged, I can´t edit it,
NEOMETALS ASX - prebreakout from the channel, lithium minerEstablished long position before anticipated breakout from the channel. Another lithium stock ASX:GXY already in strong uptrend - red line in chart.
Target 0.50, SL 0.26, RR 2.0
Will add after daily close above 0.37.
