CHN - Chalice Mining

[over9k]

 

[Sean K]

View attachment 130151

looking for any sign of a potential reversal.

 

[Sean K]

View attachment 130151

Any new thoughts O9K?

 

[finicky]

Put it on your top 10 list for buying in a massive crash.
I spose it might put another leg in when access to Hartog for drilling is announced though - Hartog .. Hartog .. that's what I'm hoping for to lighten. I can't pick it the chart - start of an impulse leg or bowl/ H&S requiring a pullback?

 

[over9k]

Any new thoughts O9K?


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I know nothing of the company except the eyeball I gave the chart before.

There is a reason why I don't trade purely based on technicals.


But there's also an obvious break from trend. Do you know why it's bounced?

 

[Tropico]

CHN does have some kind of JV/Farm-in with MHK. which has sky rocketed the last few days.
The Chairman Tim Goyder apparently has the Midas touch.
The down-trend looks like it could have broken into a new up-trend and has broken some resistance already.
Time will tell.
Edit: Add chart.

 

[over9k]

Yeah, like I said, there's an obvious break, so I'm interested to know the reason.

(I don't hold so am not going to spend any time figuring out why myself)

 

[finicky]

@Tropico
Hey that could be a breakout from falling wedge with 5 'wavelets' completed within it and now CHN could be embarked on a bull run - or then again, not

 

[Sean K]

I know nothing of the company except the eyeball I gave the chart before.

There is a reason why I don't trade purely based on technicals.


But there's also an obvious break from trend. Do you know why it's bounced?

One of the mysteries of share price movements. It could have consolidated for a bit longer but I just saw a glimpse of testing that upper level downtrend. Might have corrected enough for some new money to come in. No anns to explain it except a new presentation on 9 Sep that looked nice and colourful.

 

[Sean K]

@Tropico
Hey that could be a breakout from falling wedge with 5 'wavelets' completed within it and now CHN could be embarked on a bull run - or then again, not

You're turning into a technical analyst...

 

[over9k]

@Tropico
Hey that could be a breakout from falling wedge with 5 'wavelets' completed within it and now CHN could be embarked on a bull run - or then again, not

Hence the saying that "technical analysis is astrology for stocks"

 

[finicky]

Chalice down 6% but hard to see why. Pd price has been weak for a while and must be something in the update. Mostly too technical for my palate but the thing that stood out was the lack of equivocation in the M.D's comment that access to Hartog in the state forest is expected in weeks. Before the company was careful not to assume access. Hartog access will ramp up anticipation.

Alex Dorsch, M.D
“After lengthy consultation with the WA State Government, we are also pleased to see that our low-
impact approach to initial drilling in the State Forest is now close to being approved. We have
received positive feedback on our approach to minimising disturbance and we are eagerly awaiting
final approvals for drilling to commence at the >6.5km long Hartog Target in the coming weeks.”

 

[finicky]

Selling's been pretty relentless. I'm mostly out of ideas for the chart. A 'falling wedge' breakout was nixxed a couple of weeks ago, the shaping 'head and shoulders' has disintegrated. About all that is still intact is a downtrend channel with its support line currently at 5.60. If that fails all I can see is down to 5-4 dollars. It's getting to almost oversold on momentum. Any notions?

Daily

 

[Sean K]

Selling's been pretty relentless. I'm mostly out of ideas for the chart. A 'falling wedge' breakout was nixxed a couple of weeks ago, the shaping 'head and shoulders' has disintegrated. About all that is still intact is a downtrend channel with its support line currently at 5.60. If that fails all I can see is down to 5-4 dollars. It's getting to almost oversold on momentum. Any notions?

Failing at 8 bucks was important. Lost momentum completely. Could be just following the PGEs. Ni has come off quite a bit since 10 Sep, from over $2000 to $1800. Cu going sideways and down since 11 May. Platinum smashed since Feb. Palladium caned since May. That all adds up to pain. Maybe when those four turn around CHN will be back. Or, maybe the stocks will lead the recovery in the price of the PGEs.

 

[finicky]

I feel an announcement that drilling has been approved in the state forest (with the Hartog prospect) will be met with buying but not enough to overcome chart damage before drilling results

 

[finicky]

?Bouncy bouncy
Bouncy bouncy
Technical analysis all rights reserved, @finicky
Has pulled up pretty much where it needed to if the channel is to be intact, hope is renewed.
Thankyou ASFers for your overwhelming response and massive input.

 

[finicky]

Bouncy bouncy ?
Another reversal daily candle

 

[peter2]

All on board, as the train is leaving the station. I think the corrective price movement has completed. This corrective move is an example of a double abc. Price has hit the 50-62% retracement zone of the last impulsive swing up. There's an acceptable RR trade here for me and if I'm wrong I'll cop the loss.

 

[frugal.rock]

Consensus, it would seem?

I looked at it mid week and thought it might be "good to go" for a buy, but haven't finished my poo trade yet... poo is getting whipped into stiff peaks and sticking when turning the bowl upside down. ?

 

[finicky]

Mmm, sounds yummy