withoutwings

#STRATEGICMINERALS - Weekly falling wedge breakout

Long
LSE:SML   STRATEGIC MINERALS PLC ORD 0.1P
A lengthy downtrend may well be broken in SML , if this wedge breakout is confirmed in the next few weeks. But there's a thick Kumo (cloud) on the weekly to overcome to meet the typical wedge target - and that could take some time...

Fundamentally the company is relatively asset-rich (1 producing, 1 not far off producing, 1 medium term), cash poor, but stable & managing costs. Once they ride out the wider economic storm they should be in great shape for the future.

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