Looking an SBR breakout. Looking for SBR to kick into gear and make some moves. Watching for a breakout above or below the triangle.
Appears to be a longer form inverse head and shoulders that is counteracting the downward break of the triangle.
SBR trade ideas
$SBR $SBR.ax Cashed up $4.5m Follow on Drilling of Gold DepositRaised $4.5m for follow on drilling after announcing significant finds near Pennywest. Peak Asset Management have conducted the raise, with multiple successful raises in recent months. Given gold prices have been subdued and consolidating for four months, we could see this reverse, bringing more interest for gold explorers. Lastly the fundamental look strong with more stimulus being announced in the USA as they deal with record daily deaths from the corona virus. There is a possibility that when power is handed over to Biden, that USA will enter lock down as vaccines will not be available till end of 2021.
SBR.asx: gap closedSee how 1.0c holds:
if price went down below 1.0c, then next is 0.6c;
if price stayed above 1.0c, then 2.0c is very likely to be tested .
Strong resistance (near term) = 2.0c
Next step will be :
the company is considering extending airborne magnetic survey further to both the south and the west of the area surveyed and now working on a drilling program and will conduct drilling asap
Sabre intends to conduct a drilling program to test the magnetic targets generated.
derived from the recent “Aeromagnetic Survey Results” report
SBR retracment comingCurrently over bought on daily and weekly. Sould retrace back to 0.00, find support and rally of that level.
SBR.ASX Short to medium term price forecastShare prices had a good run on Tuesday 24-4-2018 and the question now, are they able to hold on to its gains. There are two critical price points that I would like to point out for future references.
1. 0.025 - Share prices closed its last session around this price point at 0.024 and needs to head up and hold above this point to continue to the upside.
2. 0.023 - Failure to hold above 0.025 could see prices fall to this price point.
3. 0.018 - Failure to fold above 0.023 could see prices fall to this price point. This might provide a good opportunity to take a long position if it bounces at the support trend line and head back up with supporting volume.
