Australian (ASX) Stock Market Forum

So many are probably aware of the current cannabis boom by now.
CGB (Can Global LTD) have just finished a share placement and raised $3.75 million at 0.005
The volume and price is picking up now this raise has finished.
A very speccie priced stock in a booming sector.
Creso can't run forever, and when the music stops, ouch.
Invariably, CGB is ripe for the picking and stands a high probability of being a buy up target in my opinion.

Edit, I turn my back on it and it's taking off as I write.
Do your own research if you have time...
Intraday chart

Screenshot_20201209-114336.png
3 month chart showing today's bar forming.

Screenshot_20201209-113435.png
 
It takes hours maybe days to find the little stocks that might break out. It’s not just charts usually they show the breakout when you missed it, it’s finding the drivers that will make the break out before.
I find I can only research deeply one or two stocks a day and then the conclusion is not positive.
Right now I don’t now why I am still doing when the majority of what I hold in blue chips is doing so well.
 
Chalice Mining (CHN)
Could be a false, needs confirmation, volume not high, has a current tailwind from booming palladium prices - 3 consecutive days of big jumps in Pd, palladium being the main Gonneville deposit metal (in the Julimar complex) so far. Might also be anticipation of assay results from the multi-rig drilling campaign. The big one will be geo-chem and other onground data from non drilling investigations of the continuation of the Julimar complex into State Forest. The access recently approved, so little idea of how advanced that would be, maybe entities just getting set for the whole picture. Anyway, reading too much into a single day break above resistance.

Daily - note also breakout from downtrend in the RSI momentum indicator. Arguably, a break came two days ago from a triangle?

big - 2021-03-19T152253.728.gif
 
Top