Military Metals - Possible Head & Shoulders with a 2X potential Antimony is a buzz in the mining space. Military Metals is looking to capitalize on China’s market dominance by developing new antimony mines in North America. The chart suggests that the $5 million dollar market cap exploration company could be on the verge of a 2X move. I believe that any purchase under $0.35 would be a good buy for a move up to $0.65 and possibly beyond. Good luck.
MILI trade ideas
Support formed after selloff, up from here(My other post broke my chart) After a particularly ugly selloff, the price has stabilized around 0.5CAD. I believe the price will move, potentially next week, ultimately reaching 0.69CAD, followed by 0.83CAD. There is certainly potential to move higher, but I wouldn't expect a move past the recent highs until MILF (huehue) shares their economic report for their Trojarova deposit, hopefully this spring. At that point, it could be game on for higher.
You can see a wedge? triangle? pointy polygon shape, with lower lows and a resistance level at 0.5CAD that will be broken through soon.
Buyers soaked up MILI sales in DecemberSimple post - looking at the monthly, the volume in December and notable price stabilization following the massive sell-off in November makes me lean bullish for the short term.
Folks seem to like taking profits in January, but it looks like MILI has already seen its share of profit taking.
Symmetrical triangle and downward continuationMilitary Metals currently has no clear valuation and is entirely speculative. I like their strategy (buying up antimony properties) but they have a cartoonish website and I get weird vibes from them.
In any case, the chart demonstrates a symmetrical triangle and I predict a continued downward trend in price, potentially bouncing ~30% down or more.
RSI also does not show strength, and volume is tapering down.