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Neometals LtdNeometals LtdNeometals Ltd

Neometals Ltd

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NMT things are looking upThis picture tells a lot. For the sake of simplifying the chart I have removed money flow which is also positive (as of the last few days). If you look at extreme volume over the last few months, it has always occurred at the topside of a mean - that is, distribution. The downtrend abated on the 20th March (with supporting volume on the 17th and 20th enough to arrest the decline). This was extreme volume at the bottom side of a mean - so something has shifted. The grey Stochastics showed some trading interest from this which then peaked on the 14th April and there was no follow through on the longer term stochastic (in blue). Heavy supporting volume arrived on Wed 26th in the same buy zone as the 17th March. Due to the last couple of days, I'll go on a limb and say this stock is now being supported at these levels (Accumulation). Some more obvious things to think about: The downtrend has abated with a basing pattern underway. The first run out of the block on the 20th March received little long term support but you often see that after a downward trend. There's now a positive divergence on the fast Stochastic from March 17th. There's no heavy supply until 80c. A break of 65c would be very constructive. NB: this is not to be construed as financial advice. This is very early days in a potential turnaround.
ASX:NMTLong
by dibster
1
Australias Neometals Pursuing Lithium-ion Battery RecyclingASX listed Neometals has had a good run over the last 12 months up over some 358% over the last 12 months. From their website their main focuses are on Lithium-ion Battery Recycling recovering cobalt and other valuable materials from spent and scrap lithium batteries as well as Vanadium exploration and recovery from slag. Share price is still under $1 but back at a resistance area. Will be interesting to watch to see if it breaks through and continues to run.
ASX:NMTLong
by zAngus
2