Jubilee W Formation but with warning target to R2.95

W Formation clearly formed on the daily.
We had a false breakout to the upside, but then price went right back into the W.
7>21 Price<200
RSI>50
Target R2.95

WARNING
There are three problems.
1. The JSE ALSI 40 is still within the downside of the symmetrical triangle as it had a fald breakout. This has sent shorting vibes.
2. The penny stock is highly illiquid and volatile. So one candle up breakaway is most times not enough for a strong confirmed change in direction.
3. Metals are currently pointing down which will bring down the smaller companies.

I'm bullish and the charts say up, but I don't think they are ripe for the picking yet.

ABOUT THE COMPANY

Jubilee Metals Group plc is a mining and exploration company that specializes in the reprocessing of historical mine tailings and surface material.

Jubilee Metals Group plc, commonly known as Jubilee Metals, is a British company headquartered in London, United Kingdom.

The company was founded in 2002 and was initially focused on platinum exploration in South Africa.

Jubilee Metals has since evolved into a multi-metal producer, with a strong focus on platinum group metals (PGMs), chrome, and other base metals.

The company employs innovative proprietary technologies to recover valuable metals from waste materials, such as mine tailings and surface material.

Jubilee Metals has developed a unique processing method called the ConRoast process, which enables the efficient extraction of PGMs and base metals from various feed sources.

The company's operations are primarily based in South Africa, where it has established processing facilities and strategic partnerships with mining companies.

The company focuses on acquiring and reprocessing underperforming mining operations, extracting value from previously overlooked or discarded materials.

In addition to its operations in South Africa, Jubilee Metals has expanded its presence to other countries, including Zambia and Mozambique.

The company has established strategic partnerships with major mining companies, such as Anglo American Platinum, to leverage their existing infrastructure and enhance its operational capabilities.

Jubilee Metals' shares are listed on the London Stock Exchange's Alternative Investment Market (AIM) and the Johannesburg Stock Exchange (JSE), allowing investors to participate in the company's growth.