Australian (ASX) Stock Market Forum

SPR - Spartan Resources

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

September 2024 - Following on from last month's update in August, Spartan Resources (SPR) continues to perform well, even after having closed below 10 and 30 day moving averages towards the end of the week ending 6th September. Now trading within a channel between the established support level of $1.28 and prior resistance of $1.445 from the open of 2nd September, shareholders are in a patient 'waiting game' for further price movement. Momentum indicators (DMI and RSI) both remain flat at present.

1727605934150.png
 
***** MONTHLY UPDATE FOR FULL CALENDAR YEAR 2024 STOCK TIPPING COMPETITION - @debtfree *****

October 2024 - Following on from last month's update in September, Spartan Resources (SPR) continues to have an incredible run, now breaking out of a sideways channel towards the end of the month and forming / executing a Darvas box on the daily chart (see attached chart), which provides good guiderails for anyone remaining in the investment/trade. As suggested by the Darvas box technique, the stop loss can now be raised to $1.425 - watch and observe the market reaction at this point, should this be triggered. At the present time, this level coincides nicely with the support level offered from the open of 2nd September ($1.44), which is also near the top of the previously established channel discussed in the previous update.

1729975962613.png
 
Maybe you would like to add on some volume based indicator like these below?
1730201669347.png


Those band are special bollinger band type that is inspired by Nick's and obviously I combined with my own and other existing BB system
 
Top