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SPR - Spartan Resources

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***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

February 2024 - A fairly dull and dreary month for long-term shareholders of Spartan Resources (SPR), with the shareprice fairly much stuck in a range and gravitating around the support level of $0.475. A potential breakout midway through the month looked possible, but quickly trailed away back into 'no man's land' between the 10 and 30 day moving averages, as noted in the last update above from 30th January. Perhaps upcoming earnings in mid-March could be a catalyst, or a good reason to be gone, depending on personal risk tolerance?


 
Tempting chart development although I have no intention of buying.
Being shilled on Stonkhead. Claims being made of high grade hits near the mothballed newish Dalgaranga mill. Haven't read into it.

Not Held

WEEKLY
 
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

March 2024 - After a dull and dreary month as described in February's update last month, Spartan Resources (SPR) successfully tested the support level at $0.475 at the beginning of the month and strongly bounced off this level on high volume to form a new channel throughout the month of March. It also appears as though a new breakout may be occurring towards the end of the month with reasonable momentum forming on the DMI/ADX indicator as we enter into the next quarter of 2024, whilst the share price closes firmly above both 10 and 30 day moving averages.

 
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

April 2024 - Following on from last month's update in March, Spartan Resources (SPR) has seen interesting movements in it's share price after the formation of a potential outside week at the end of March, which activated in the first week of April but failed to continue marching onwards in the upwards direction. This resulted in the share price heading backwards towards the lower end of the range of the outside week, but still remaining within the range (i.e.: between $0.565 and $0.66), as shown below.

After re-testing the upper range of this now confirmed outside week, SPR management (in it's wisdom, which remains to be seen) decided to announce a capital raise at the level of $0.58 per share. Fortunately, for SPR share holders, the share price currently remains above the capital raise level and the lower level of the outside week, however remains cemented below both 10 and 30 days moving averages towards the end of the month, begging for bidding activity.

 
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

May 2024 - Following on from last month's update in April, Spartan Resources (SPR) has seen an incredible resurgence in interest and share price increase from the capital raising level of $0.58 per share, testing the upper bounds of the outside week formed at the end of March ($0.66) on 14th May and not looking backwards whatsoever from that point onwards ever since, tracking the 10 day moving average towards the end of the month.

 
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

June 2024 - Following on from last month's update in May, Spartan Resources (SPR)'s resurgence in interest continued after the development of an 'outside week' formation during the week ending 14th June, which activated during the week ending 28th June. Now that the outside week has activated to the upside, consider raising any stop loss to slightly under the swing low of $0.80 as discussed within the latest weekly video below, depending on risk tolerance.



 
debtfree said:
Nice 23.62% move up today for SPR.
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Yeah, completely agree @debtfree , it certainly was an outstanding move from Spartan Resources (SPR) yesterday following a market reaction to a positive announcement (hope you managed to be able to take advantage of the move yourself!). A note was published on the 'ASX Traders United' Facebook site (coffee room chat) yesterday about this as well, with the suggestion to keep an eye on the market reaction to prior support/resistance areas of $1.20 from the open of 07-Mar-2019 and $1.05 from the open of 30-Nov-2018 (so far so good - today's trade represents a 'gap continuation'). An additional note provided was consideration of taking out initial investment and holding the rest should current support/resistance areas fail to hold, especially after such a parabolic move. All of the best!

 
bettamania said:
My all time favourite!

Another champion from my semi counter trend system. Cheers to all and this is not a recommendation to buy and sell

View attachment 181415
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Congratulations @bettamania , your timeframe of the beginning of April aligns with personal detection of the trade with the outside week of the week ending 2nd April - always willing to learn more about convergent methods but can't locate your initial post about this - could you please point me in the right direction to learn more about your methodology? Cheers, with many thanks!
 
@ IvoryWolf I am not a licensed broker nor a financial advisor. Just a small time and a small funded spectator who cheers this equity market. And in order anyone not to copy trade my mechanical system I will post it once I am in a mid trade and constantly I will put my disclaimer on it. This is the main reason why you cant find my post and mainly I am in a mid conversion of all my trading systems into AB. When I got stuck and bored I will be fooling around in this forum.

Talking about methodology, my system is not a convergence divergence or OBOS or " any indicators galore" related system and I believe you find this thing next door". For me finding new trading system, or tweaking conventional and to brag about particular oscillator are my past. Now it is a time to make money.

If you do have a methodology or even have a system you can post it here.

Thank you
 
Not a broker or financial advisor either @bettamania and certainly not a matter of bragging (forums such as these are designed to be collaborative). Personally very happy to share - you can find further details earlier in this thread, methodologies are published on YouTube on a weekly basis - I wish you all of the best!


 
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

July 2024 - Following on from last month's update in June, Spartan Resource (SPR) continues to go from strength-to-strength with an exceptionally solid month. As at the time of writing (commencement of trade on 29th July), the prior week was a particularly strong week noted to be a potential 'outside week' formation once again. See further details attached, but essentially another opportunity to raise stop losses on the trade are available depending on risk tolerance, should the outside week activate (the first was mid-July, as shown in the chart below; another was on 24th July when double the entry price of the trade for many participants would've been reached).


 
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

August 2024 - Following on from last month's update in July, Spartan Resources (SPR) hit another yearly high (the highest point since 2019) at Friday's close on absolutely incredible volume - this company is certainly getting noticed! See further details attached, but what you'll notice from the information below and attached is that yet another potential outside week has formed this week, which allows shareholders the opportunity to raise stop losses in order preserve profits (similar to what was discussed in last month's update noted above - icing on the cake for shareholders who have already extracted back their initial investment from a doubling of share price from entry into the trade upon suggestion - congratulations!).


 
A mighty good run Spartan Resources (SPR) has had... appears to be time to call things a day, by the looks of it, with a close at the end of the trading week beneath the 10 and 30 day moving averages, as well as below a prior resistance level from the open of 26th July ($1.28) and definitive closes this week below a potential outside week last week... Consider enjoying your profits and putting them to good use and for the use of good!



 
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