BLR - Black Range Minerals

[vert]

i would be happy with a close above 0.08 today then maybe push 0.09 at end of week, nice and steady wins the race.
every time the price drops a bit new buyers come in and push it up again, very positive imo.

 

[noirua]

i would be happy with a close above 0.08 today then maybe push 0.09 at end of week, nice and steady wins the race.
every time the price drops a bit new buyers come in and push it up again, very positive imo.

Closed today at 8.2 cents on the back of the drilling at the Wyoming Uranium Project. Very healthy trading at 12,231,316 shares.

 

[noirua]

Changed my mind again on this well traded small fry stock and unloaded a few hours before the close. If you still hold I hope you make a fortune, but watch this one that promises everything in high trading and then reverses for no reason.

 

[CanOz]

Is it just me or does is this looking like a "cup and handle" pattern? Excuse my lines.

 

[noirua]

Is it just me or does is this looking like a "cup and handle" pattern? Excuse my lines.

It does, well spotted, and over quite a few months. What next?

 

[CanOz]

Well, i'm in a position with this now and looking for it to test the last high, which would also qualify as a triple top. If resources sentiment remains postive i would look for it to breakout in the upcoming weeks. A stop loss at 5.9 would be a safe level of support i think.

Cheers,

 

[two40]

going up and up and up this morning

 

[Sunny Day]

Mmmm a cup and handle. The last one I saw was with DYL about 4 weeks ago when it was 20 cents. Needless to say that preceeded a decent run up.

 

[CanOz]

Heres the latest daily chart on BLR. I'm in this one now and may consider adding to the position depending on how the upcoming price action unfolds.

 

[CanOz]

OK Tech, or any others, what can we expect from this one this week? I think if .073 is busted then its going to retrace again.

Comments?

 

[constable]

OK Tech, or any others, what can we expect from this one this week? I think if .073 is busted then its going to retrace again.

Comments?

Dont know much about this stock but i would be concerned its recent rallies have failed to break the close of 87 back on the 26/7 so that ultimately it could still be trending downwards! Good volumes but.

 

[crazyjimsmith]

545 mill shares on issue

http://www.blackrangeminerals.com

Five good projects.

3 uranium projects in the US. Negotiations underway to acquire more.

1 copper project in the US that was previously a high grade copper mine.

1 copper project in Australia that also shows high grades and is likely to be expanded

I like!

 

[jemma]

I did my research and bought 1.5 million of these in the last week.

Agreed cup and handle, Kennas can you confirm please, you are great at these.

JORC compliant on one U project in Jan should see lift off.

I like this one very much.

 

[jemma]

OK Tech, or any others, what can we expect from this one this week? I think if .073 is busted then its going to retrace again.

Comments?

cana, may have a chance to breakout in the next few weeks.

kennas keep an eye on this one

 

[Wysiwyg]

Correct me if I`m wrong,but I see this formation as a pennant at half mast.

 

[jemma]

Correct me if I`m wrong,but I see this formation as a pennant at half mast.

Just for those who don't know what wysiwg is saying:

Flag (Bearish) Classic Pattern

Implication

A Flag (Bearish) is considered a bearish signal, indicating that the current downtrend may continue.

Description

A Flag (Bearish) follows a steep, or nearly vertical decline in price, and consists of two parallel trendlines that form a rectangular flag shape. The Flag can be horizontal (as though the wind is blowing it), however it often has a slight upward trend.

The vertical downtrend, that precedes a Flag, may occur because of buyers' reactions to an unfavorable company announcement, such as a court case, or a sudden and unexpected departure of a CEO. The sharp price decrease is sometimes referred to as the "flagpole" or "mast".


The rectangular flag shape is the product of what technical analysts refer to as consolidation. Consolidation occurs when the price seems to bounce between an upper and lower price limit. The Flag (Bearish) pattern formation reflects the reaction of sellers who are willing to sell at a lower cost, and the influx of buyers who inadvertently drive up the price as they compete to buy at the best possible price.

A bearish signal occurs when the price rebounds beyond the upper trendline of the Flag formation, and continues the original downward price movement. This is considered a pattern confirmation.

When speaking about Flags, technical analysts may use jargon and refer to the flag as "flying at half-mast". Visually, this reference is nothing like a flag at half-mast, such as on a day of national mourning. Instead, this term refers to the location of the flag - at the mid-point of what would otherwise be a continuous downtrend.

I disagree and think it will hit high 7's with volume. Anyone else care to have an opinion on the chart???????????

 

[Sean K]

Just for those who don't know what wysiwg is saying:

Flag (Bearish) Classic Pattern

Implication

A Flag (Bearish) is considered a bearish signal, indicating that the current downtrend may continue.

Description

A Flag (Bearish) follows a steep, or nearly vertical decline in price, and consists of two parallel trendlines that form a rectangular flag shape. The Flag can be horizontal (as though the wind is blowing it), however it often has a slight upward trend.

The vertical downtrend, that precedes a Flag, may occur because of buyers' reactions to an unfavorable company announcement, such as a court case, or a sudden and unexpected departure of a CEO. The sharp price decrease is sometimes referred to as the "flagpole" or "mast".


The rectangular flag shape is the product of what technical analysts refer to as consolidation. Consolidation occurs when the price seems to bounce between an upper and lower price limit. The Flag (Bearish) pattern formation reflects the reaction of sellers who are willing to sell at a lower cost, and the influx of buyers who inadvertently drive up the price as they compete to buy at the best possible price.

A bearish signal occurs when the price rebounds beyond the upper trendline of the Flag formation, and continues the original downward price movement. This is considered a pattern confirmation.

When speaking about Flags, technical analysts may use jargon and refer to the flag as "flying at half-mast". Visually, this reference is nothing like a flag at half-mast, such as on a day of national mourning. Instead, this term refers to the location of the flag - at the mid-point of what would otherwise be a continuous downtrend.

I disagree and think it will hit high 7's with volume. Anyone else care to have an opinion on the chart???????????

Hi Jemma,

I think this more a 'pennant' than a flag. Your discription/definition of the 'flag' above is of course correct, but the pennant is a period of sideways consolidation converging to a point, which I think this is doing. It's developing lower highs and higher lows. Generally, the theory is that if this pennant developes after an uptrend, then expect the uptrend to continue.

I'm finding it hard to tell which way this one will go and I think I'd want to wait on some more development of this pattern, or to watch which way it moves out of the range. Of concern however, is the MACD which has been moving down, although the short EMA has just turned up. I'd like to see the blue line above the red line for confirmed upward trend move. Although as lagging indicators we might see this in the chart before the indicators do!

On the downside will be support at $0.06 probably and then $0.05. $0.08 ish will be hard to break but if it does, that will be a very positive move.

This is all short to medium term talk of course. It has more than doubled in a year, even though it's very volatile, and you'd have to be happy with that return. Hopefully it doubles again for you, and more!

In summary, I'm definately on the fence at the moment. Good luck!

 

[jemma]

Hi Jemma,

I think this more a 'pennant' than a flag. Your discription/definition of the 'flag' above is of course correct, but the pennant is a period of sideways consolidation converging to a point, which I think this is doing. It's developing lower highs and higher lows. Generally, the theory is that if this pennant developes after an uptrend, then expect the uptrend to continue.

I'm finding it hard to tell which way this one will go and I think I'd want to wait on some more development of this pattern, or to watch which way it moves out of the range. Of concern however, is the MACD which has been moving down, although the short EMA has just turned up. I'd like to see the blue line above the red line for confirmed upward trend move. Although as lagging indicators we might see this in the chart before the indicators do!

On the downside will be support at $0.06 probably and then $0.05. $0.08 ish will be hard to break but if it does, that will be a very positive move.

This is all short to medium term talk of course. It has more than doubled in a year, even though it's very volatile, and you'd have to be happy with that return. Hopefully it doubles again for you, and more!

In summary, I'm definately on the fence at the moment. Good luck!

Great analysis as always kennas, you are great with the charts. I agree with what you have said as I have pointed out the 8 cent barrier as crucial before.

My opinion is that we will see a move towards 8 very soon, within one week.

This will confirm an attack to a uptrend pattern and if it breaks 8 will see it reach 12-13 pretty quickly. Kennas, my tip for you, watch closely and get on if it moves to high 7's.

Cheers for the analysis again champ.

 

[Wysiwyg]

Hi jemma....my reference to the rising `pennant` is from a book called Trading Australian futures...."These patterns occur frequently and predict market action with a substantial degree of reliability.Each pattern is a consolidation within a substantial market move and they occur most frequently at the mid point of a particular move.The pattern indicates that the market has moved faster than the underlying support.The pattern represents a pause in market action.The pennant flies at half mast ,that is,the pattern represents the mid point of the move."

I hope this clarifies my observation. :70:

 

[jemma]

Hi jemma....my reference to the rising `pennant` is from a book called Trading Australian futures...."These patterns occur frequently and predict market action with a substantial degree of reliability.Each pattern is a consolidation within a substantial market move and they occur most frequently at the mid point of a particular move.The pattern indicates that the market has moved faster than the underlying support.The pattern represents a pause in market action.The pennant flies at half mast ,that is,the pattern represents the mid point of the move."

I hope this clarifies my observation. :70:

It does clarify things, many thanks.

Does your name mean anything in particular??

PS I have asked Yogi in OZ to give us an astro update.