Detected 19-Apr (detailed commentary and full scan results available in the signature below). Not activated as at time of review of 19-Apr.
ASX:SFR represents a potential bullish opportunity should momentum continue and newer highs be made.
Entry conditions:
(i) breach of the upper confines of the Darvas box formation - i.e.: above high of $9.28 of 9th April...
SFR has an interesting Descending broadening wedge formation, which you can interpret as corrective in nature within a larger trend. Some evidence to support a bullish posture here:
1. support and volume poured in near the price control value of $5.41.
2. There has been a lot of volume traded between $6.20 and $6.40 as well but a lot of the recent price action...
SFR has pulled back and is approaching its strong Support Level, This zone coincides with the POC of volume profile and also trendline support, therefore it could likely bounce off the zone. I will be monitoring price action and will buy after bullish price action confirmation.
Please note these are my own notes, by no means trading advice. Please do your own...
Share prices exploded from the opening trades with massive volume breaking thru 4.52 to the upside up by 7.54% at the time of writing. If you missed the opening trades' action but still want to get into this run, I suggest you wait for price retracement around the support levels mark on the chart by the support and resistance indicator. 4.63 price level is a...
The price has been around this long term trend line on several occasions, so do NOT presume that it will breakout this time. This is just a heads up to watch the price action & see if it yields a trade in the near future.
We are seeing the formation of an inverted H & S pattern with a neckline that lies along the long term trendline. A break and retest of the neckline/trendline should confirm the bullish pattern
SFR continues to hold no debt and is completely funding its own operations and exploration activities from cash flow.
This is likely to see further exploration announcements and farm in deals with other mining companies over FY19 as has been the case in FY18.
We continue to cover SFR as a Star Growth Stock with an unchanged Lincoln Valuation of $8.06.
Sandfire Resources NL is a mining and exploration company. Copper, gold and silver.
Developing Black Butte Copper Project in central Montana, USA.
Ascending right-angle triangle developing on the weekly. Price allow now entry with good risk/reward.
