Rare Earths Macro Long...It's becoming more and more obvious how little producers there are of Rare Earths outside China (there are only 2: Lynas and Mp Materials) - Expect many good exploration projects to gain momentum over the coming years as $ is thrown at them in the rush to get them operational and producing.
ASM trade ideas
ASM @ 17 SEP 2021Text me if you have any questions/comments for me.
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ASM
- Previous written analysis was done on 13 Sep -> suggested waiting for a successful rebound before plotting entry
- Since then, the stock has had a weak test of 10.00 levels and is already a Structure Break in my books
- Today’s price action with above average volume is interesting but still hasn’t broken through the counter-trendline (blue line)
- If the stock fails to break the counter-trendline, another Lower High (LH) would form -> not good
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a series of Higher Highs (HHs) and Higher Lows (HLs)
ASM @ 13 SEP 2021ASM
- Previous written analysis was done on 7 Sep -> suggested waiting for next rebound wave before plotting entry
- Today’s retracement has broken through the short-term support and has also created a new Lower Low (LL) -> not good
- If there is an immediate rebound to create a new Higher High (HH), the stock is still in good condition
- Any further drop to around 10.00 levels would be a structure break
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for successful rebound before plotting entry
Big Move Today On ASM - An Australian Rare Earth MinerI bought and held this late last year but got shaken out of the trade and so it has been off my radar for a while.
Big move today and has been steadily making ground but still a sub $10 stock.
If it pulls back or consolidates I'll have another look. Could be a good one to put in a drawer and forget about for a couple of years.
My previous post on it: