"Walkabout Resources Limited (ASX:WKT) is an innovative African focused energy minerals developer, based in Western Australia with a focus on developing. the Lindi Jumbo Graphite Project in south east Tanzania"
ASX:WKT
Overall Analysis:
Strong fundamentals.
Long term hold despite short/mid term price action.
Probable descending triangle being formed.
If...
Overview:
LRC looks like it has been in a falling wedge structure since July 2019. After forming an inverse head and shoulders with some lower MA's crossing, it looks like it could be ready for a move. Be careful with trading Alts whilst Bitcoin is like this. A parabolic BTC move will wreck alts.
Breakout Analysis:
Daily 9MA crosses 20MA
Daily 9MA about to cross...
Could retest 30c to form Inverse H&S before breakout of falling wedge structure.
Could continue its run through the final resistance of falling wedge (Red Line) and commence bull run.
Moral of the story: Watch the breakout of the red line.
