Bullish on ARU Nice Long op here.
Price jumped up to 0.275 on news of government intervention back in March 24. Retail traders jumped in longs expecting price to surge. Institutions have then pushed the price back down to the previous low at 0.115 and stopped out all retail traders before we get the real move up.
I've jumped in around 0.125 looking for price to get back up to the first liquidity zone at 0.28. Will see how price reacts there.
Happy trading!
ARAFF trade ideas
ARU cup and handleLooking at a cup and handle break. Already at all tight high, so hard to find a target point, but if we follow fibs, I'm looking at Target 1 of $0.69 and Target 2 of $0.86. Cup and handle target ideally would be $1.035, but that's a long bet. I look to trade until Target 1 and then freehold.
DYOR and trade at own risk.
Struggling to break the downtrendNo clear trend until the triangle is broken out of
Would prefer a retest of the RSI uptrend.
Price downtrend line seems to be gaining strength.
Needs to stay above 0.21 and break above 0.235
Have to mention though there was some spectacular volume on the 29th which indicates someone wants in.
An opportunity awaits Arafura Resources Limited is an Australian mineral exploration company focusing on rare earth elements. With it's headquarters in Perth, Western Australia it is s listed on the ASE.
The company's flagship project is the Nolans Rare Earths Project, located in Australia's Northern Territory.
After retracing down to 61.8% fib zone & testing the $0.16c level twice, price is breaking out of the wedge. A break & close above $0.21c will set it off. It pays to be patient & trade with a better signal. Trade off is slightly lower profits but a higher chance of success