RiskMastery's Breakout Stocks - WCN EditionWelcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at ASX:WCN ...
I believe this code is at a point of potential volatility.
If price can hold above $0.017 ... Bullish potential may be unlocked.
My key upside targets include:
- $0.023 (Conservative)
- $0.030 (Medium)
- $0.039 (Aggressive)
If however price falls below $0.012 ... Bearish risk potential may be unlocked.
(My key risk targets - C, M,& A - are as noted on the chart)
Enjoy, and I look forward to being of further service into the future.
If you'd like to connect, feel free to reach out and comment below.
Mr RM | Risk Mastery
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WCN trade ideas
Recent volume on WCN, could be some news worth looking into.Recent volume and new highs from WCN may warrant keeping this on your watch list. Although results were not impressive last time around, it seems that some are buying up now in the event that good results do show up in the near future. Closed above the 50d MA. Good volume above average for last week.
WCN flipPossibly an opportunity to trade expectation momentum of extension drilling results coming early May.
Found a comfortable support around 0.02 after disappointing initial drilling.
Highly unlikely people are going to dump this stock prior to the announcement, get in early and you could make a couple of pips on way up before the announcement.
Hypothetical trend line in blue
Actual trend line in red
WCN performed well in the past for me, let's see if it can do it again.
A new road for WCNI've been watching WCN for a year now and after acquiring some Copper/Gold Tenements in the Paterson Province there suddenly has been some high volume that WCN hasn't seen in a long time. With gold prices at a high and tenements in a quality area this could be a game changer for these guys later down the road. Seems people are already getting onboard.
From the March Quarterly
"The Paterson Province hosts several world-class deposits: Telfer gold-copper mine, Nifty copper mine and Kintyre uranium deposit. The recent Winu and Havieron discoveries are being considered as intrusionrelated copper-gold mineralisation, proximal to major NW to NNW-trending faults. Information available on the mineralisation indicates it is dense, magnetic, conductive and potentially chargeable, making it a good target for geophysical exploration, particularly given that mineralisation underlies Canning Basin sediments and is blind to surface. "
"With an increase in activity within the Paterson Region, improved geological understanding, and recent discoveries, the two tenements provide entry into an exciting area of the resources sector. "
Regarding the technical, not too much to go with at the moment apart from the obvious OBV, RSI, chart formation.. Waiting for a breakout and the creation of a new support around 0.016-0.018. Also the inverted hammer doji has bullish significance imo
WCN have $3mil in cash and assets.