BKY Berkeley Energia ASXWeekly chart of BKY
Currently breaking out of weekly triangle within a larger triangle pattern
Will likely get to $0.57c relatively quickly which is the larger triangle trend line
Given the hovering around current levels I'm almost thinking that is accumulation which may push this through multi year resistances and breakout for a strong move higher
Full disclosure this is a long term position I have had for a while now...
BKY trade ideas
BKY Monthly Chart 2BKY Monthly chart
Elliot wave corrective patterns and Large triangle, added Triangle base target estimate to possible breakout area
Likely $2.70, currently $0.425 = 630% or 6.3 reward to risk if you are willing to keep it to $0.00
Not making money but very experienced and qualified management team developing its spanish mine,
BKY has a current ratio of 31x which suggests it has large reserves circa ~$75mil as of Early 2025 suggesting it has a large reserve to convert assets into production
BKY Energia Monthly BreakoutFull Disclosure, I own this stock and have done for years since 2017
BKY is triple listed in Spain, London and Australia, but all charts are breaking out now at a monthly level
This triangle is massive, and the top formed back in 2007 so this pattern is a multi year breakout
There is likely going to be a retest of the trend line, but wouldn't be surprised to see some momentum build here as we are seeing the same picture in multiple countries which says there is something stirring with this stock
Thus Spoke FibonacciI have a beef with BKLRF. Berkeley Energia owns a huge uranium property in Spain. How do they expect to mine uranium in Western Europe? Doesn't make sense. Neither does the price action... too overextended. Utilizing Fib retracements for the overall pattern as well as nearer term, it looks like the price is entering the 'short zone'. I'd say it never makes past $0.50.