WKT trade ideas
(ASX:WKT) Walkabout Resources Forecast"Walkabout Resources Limited (ASX:WKT) is an innovative African focused energy minerals developer, based in Western Australia with a focus on developing. the Lindi Jumbo Graphite Project in south east Tanzania"
ASX:WKT
Overall Analysis:
Strong fundamentals.
Long term hold despite short/mid term price action.
Probable descending triangle being formed.
If confirmed: 72.93% chance it will breakout to the trend (Bearish).
If confirmed: Wouldn't surprise me if a positive announcement was released before the breakout to manipulate it to the upside.
Day Trade:
Target: 26.5c (40% increase) @ Late Feb/Early March
Target analysis:
Resistance @ Weekly 50MA
Likely Descending Triangle - Resistance (Upper Red Line)
Previous Support @ 25.5c (Green Dotted Line)
High Volume Area 25.5c - 27c
FIB Retracement = Golden Pocket (0.5 - 0.618)
Support @ Current Price
Support Analysis:
Multiple Weekly Close above 100MA (Orange Line)
Descending Triangle Support (Bottom Green Line)
Previous Resistance 2018 @ 15c - 17.5c
Stoch RSI Oversold
Daily MacD Cross
Declining Volume
Note: Bearish Pennant on lower time frame (Dotted Pink Triangle)
Standard pattern breakouts suggest pennant breakout will follow the trend (Bearish) at a 55.19% percent probability.
Support currently outweighs the standard pattern breakout expectation.
Descending Triangle likely .
If price breaks 100ma expect to see 12 - 14c (Support on 200MA) = descending triangle invalidated?.
$WKT - looks like a retest and go jobAfter the shareholders ponied up their own cash to support this stock its traded like its been accumulated. Breakout on voume and retest on low volumes. Hugging key ma's looks set to break 32, a key short term level before potential retest of the old high around 44. TWT.
$WKT - volume signatureI bought this when it was a bit stretched to be honest. Frankly there aren't that many Im seeing that showing that lately IMO setup was too good not to gamble on. Thru 29.
$WKT $0.145 doji day potentail breakout #232Eventually this will breakout
The most recent volume action actually looks as it should pre break
Chart has notes
$WKT - WALKABOUT RESOURCES - Worth a watch$WKT - WALKABOUT RESOURCES - Worth a watch
Have added an alert so that if my ADX turns above 20 and price gets to .115 and depth is still there on the buy side I will look for a entry. Lot of potential upside if it does decide to run.
Walkabout Resources Limited is an Australia-based mineral exploration company. The Company is principally engaged in the exploration and development of resources and energy assets located in Botswana, Tanzania and Namibia. The Company's operating segments include Graphite, Coal, Lithium and Copper. The Company's geographical segments include Australia, Botswana and Tanzania and Namibia. The Company's projects include Takatokwane Coal Project, Lindi Jumbo Graphite Project and Kigoma Copper Project. The Takatokwane Coal Project is located approximately 195 kilometers from the Botswana capital, Gaborone, in the southern belt of the Central Kalahari Sub-Basin. The Lindi Jumbo Graphite Project is located within the emerging graphite province in southeastern Tanzania approximately 200 kilometers by road from the port of Mtwara. The Kigoma Copper Project is located approximately 80 kilometers south of the town of Kigoma on the shores of Lake Tanganyika in western Tanzania.
WKT $0.155 NEWS and teetering on BOVolume speaks volumes
BO confirmed @0.175+
MC 41M @ 0.155
Rerate potential
FD holding
$WKT just add cobalt for bang bangJust see what happens when you add cobalt to copper and silver and everything else they have.
Cashed up and severely undervalued
$WKT add 90kms of joyJust doesnt get any better does it really.
Just try and hold it back now
Rerate time kids
