Looking at a cup and handle break. Already at all tight high, so hard to find a target point, but if we follow fibs, I'm looking at Target 1 of $0.69 and Target 2 of $0.86. Cup and handle target ideally would be $1.035, but that's a long bet. I look to trade until Target 1 and then freehold.
DYOR and trade at own risk.
No clear trend until the triangle is broken out of
Would prefer a retest of the RSI uptrend.
Price downtrend line seems to be gaining strength.
Needs to stay above 0.21 and break above 0.235
Have to mention though there was some spectacular volume on the 29th which indicates someone wants in.
Arafura Resources Limited is an Australian mineral exploration company focusing on rare earth elements. With it's headquarters in Perth, Western Australia it is s listed on the ASE.
The company's flagship project is the Nolans Rare Earths Project, located in Australia's Northern Territory.
After retracing down to 61.8% fib zone & testing the $0.16c level twice,...
Arafura resources ARU.ASX moving on volume with wild swings. Price created broadening formation.
Last fundamentals seem to be positive with extension of its rare earth mine.
Will we see breakout from the multiyear base ?
