ASN CHART THREAD
- Thread starter BEISHA
- Start date
aaaahhh...FA TA....FA....TA....
Will watch with interest
Reckon I'll top up at the TA bottom and hopefully the FA will announce itself shortly thereafter
Still no signs of a TA bottom yet Wino and considering we are close to Xmas, unlikely to see any FA announcements either.
RSI 14 showing no signs yet of flattening out, nor the EMAs.
Absolutely no support preventing SP dropping to that strong support zone.
MACRO
Given the DOW is still in the early stages of sub wave 2 down, given that Li prices are on the wane, probability is high that ASN will get to 17/15c.
imo
@Winenut
Could these yellow bubbles be the first signs of a reversal ?
ASN briefly entered the support zone at 16.5 and now has pushed off.
MACD green line converging with red signal line.
RSI 14 spiking up.
I topped up at 18.5.
Trend will be confirmed once SP breaches 8/21 ema and / or 19.99 resistance.
Looking for the green line to cross red signal line on the MACD too.
imo
Could these yellow bubbles be the first signs of a reversal ?
ASN briefly entered the support zone at 16.5 and now has pushed off.
MACD green line converging with red signal line.
RSI 14 spiking up.
I topped up at 18.5.
Trend will be confirmed once SP breaches 8/21 ema and / or 19.99 resistance.
Looking for the green line to cross red signal line on the MACD too.
imo
Shivertown1
Emerged
Thanks Beisha, Happy and prosperous New Year to all
Hi All
White arrow pointing to a bullish MARUZOBU candle on Friday, confirming my suspicions from the previous post that a reversal could be in play for ASN.
ASN is now a confirmed BUY for the following reasons......
a) SP has now breached the 8 & 21 ema to the upside
b) MACD......green line has now clearly crossed the red signal line.
c) RSI 14 is now over 50.
I topped up again @ 21.
ASN immediate challenge now is to break the 22 / 25 resistance zone
Positive MACRO on Friday night should assist that cause....
Both charts indicating reversals could be on the way there too.......
Lets see what happens next week..........should be positive.
imo
White arrow pointing to a bullish MARUZOBU candle on Friday, confirming my suspicions from the previous post that a reversal could be in play for ASN.
ASN is now a confirmed BUY for the following reasons......
a) SP has now breached the 8 & 21 ema to the upside
b) MACD......green line has now clearly crossed the red signal line.
c) RSI 14 is now over 50.
I topped up again @ 21.
ASN immediate challenge now is to break the 22 / 25 resistance zone
Positive MACRO on Friday night should assist that cause....
Both charts indicating reversals could be on the way there too.......
Lets see what happens next week..........should be positive.
imo
ASN starting to put the bunsen burners on now..........probably due to the cracker announcements this month.
FA always rules in the end.
By my wave count, we are witnessing minor sub wave 3 up atm, which i have a 1.618 target of 29, but could it go a bit further and hit the top of the resistance zone at 31 ?
All indicators are bullish , but it must be noted that RSI 14 has now hit the over bought zone at 70....
Great volume going thru.
Go ASN !!
imo
Hi All
A little bit surprised to see the SP drift down this low, wave 4 down tends to reverse around the 38 fib alot of the times, that being said, it can go as low as the height of wave 1 up, which is where it is now.
The problem is, i dont see any signs of a reversal yet, with MACD still looking bearish, all emas still pointing south and RSI 14 breaking trend to the down side.
A drop to the 786 fib support is very much a possibility based on those observations.
Next week will reveal more.
imo
A little bit surprised to see the SP drift down this low, wave 4 down tends to reverse around the 38 fib alot of the times, that being said, it can go as low as the height of wave 1 up, which is where it is now.
The problem is, i dont see any signs of a reversal yet, with MACD still looking bearish, all emas still pointing south and RSI 14 breaking trend to the down side.
A drop to the 786 fib support is very much a possibility based on those observations.
Next week will reveal more.
imo
cosors
👀
"China Lithium Probe Shuts Down a Tenth of Global Supply
- Beijing sends environment officials to production hub: Yicai
- Battery metal’s price has been falling on oversupply fears
I stumbled across this in the Swedish press:
"Chinese authorities crack down on "mining chaos" in lithium hubs
feb 28, 2023According to the English-language Chinese newspaper Global Times, "mining chaos" has occurred in one of the country's largest lithium hubs, Yichun, in the eastern part of China. Authorities have sent officials to the area to monitor the local mining sector, following reports that "locals have gone crazy mining the 'white stone,' an alternative name for lepidolite, and selling it amid the current boom in the electric car industry in China ".
According to Bloomberg, Chinese authorities have ordered the closure of all non-state lepidolite (a type of rock where lithium is found) mines in the area - which may account for as much as a tenth of the world's lithium supply - as the operations are suspected of violating environmental laws. A state investigation must investigate whether this is the case.
The measures worry the entire global lithium market, according to Bloomberg, where prices have recently started to fall to the delight of electric car manufacturers.
- All lepidolite mining in Yichun except for those carried out by a state-owned company has been suspended, but the refineries are still operating, an analyst at Daiwa Capital Markets told Bloomberg."
https://www.metallerochgruvor.se/20...yndigheter-slar-ner-mot-gruvkaos-i-litiumhubb
Hi All
The wheel is slowly turning bullish for ASN.
a) SP is curving up with some higher highs / lows
b) MACD.....green line converging with the red line, negative histogram almost complete, primed to go positive.
c) RSI 14 is developing a bullish trend.
MACRO was bullish on Friday night, so i think it will be a positive start for ASN next week.
The immediate challenge is to break the strong 23 fib resistance ( 21.19 ) then break the strong resistance at 38 fib ( 23.04 ), once that is achieved, only minor resistance stands in the way until 27.90 / 31 resistance zone.
imo
The wheel is slowly turning bullish for ASN.
a) SP is curving up with some higher highs / lows
b) MACD.....green line converging with the red line, negative histogram almost complete, primed to go positive.
c) RSI 14 is developing a bullish trend.
MACRO was bullish on Friday night, so i think it will be a positive start for ASN next week.
The immediate challenge is to break the strong 23 fib resistance ( 21.19 ) then break the strong resistance at 38 fib ( 23.04 ), once that is achieved, only minor resistance stands in the way until 27.90 / 31 resistance zone.
imo
FluffyQuack
Emerged
The presentation announcement today was a good one. Heaps of detail for new investors, a continuation of the ESG thematic (no doubt to get the low interest government funding), and yet more mention of Boron not being included in the DFS costings.
I reckon Bruce is going to pull a rabbit out of his hat and have Boron included in stage 1 production. It's already part of the production cycle in that it needs to be removed anyway.
Include the Western areas of Paradox still to come, the Green River prospects, and all that stage 2 has to offer, let alone Yellowcat, if ASN doesn't take off shortly then it will prove that the rest of the world has rocks in their head. And I will be happy to top up when possible.
I also like that they now have their head office in Brisbane. Be nice to actually go an AGM in person!
Sorry Wino, i missed this post of yours.........
If the SP drops out of that green support zone to the downside , then EW has broken down.
Atm tho, sub wave 4 down is pretty much level with the height of sub wave 1 up / 78 fib support, so rules still intact, that being said, sub wave 4 down dont normally go that low, 38 fib is the popular reversal zone.
Definitely needs news this stock, boring as fuck, currently ASN doing a drill campaign at Green river prospect and Missisipian units at Paradox to significantly increase the resource, when those results finally come to fruition, then BOOM.
Until then..........zzzzzzzzzzzzzzzz
imo
Well, the worm certainly has turned............
Will that doji ( yellow arrow ) be the pivot for minor sub wave 4 down ?
The hourly chart suggests so.
See what happens next week.
imo
Well, the worm certainly has turned............
View attachment 36370
Will that doji ( yellow arrow ) be the pivot for minor sub wave 4 down ?
View attachment 36371
The hourly chart suggests so.
See what happens next week.
imo
So much potential this stock, but fark its trying my patience !!
Orphan cycle sucks !
When is the farken resource upgrade drill programs going to start at Green river and western strategy Paradox ?
@cosors , any info to share ?
Anyway, TA wise, a full ABCDE wave 4 down looks to be complete, hopefully the support at 14 holds.
MACD & RSI 14 is bearish.
Stuff all volume, suggests folks see better opportunities elsewhere.
Not much more to say.
imo
cosors
👀
Thank you for your insight. Unfortunately, I can't contribute anything new at the moment. I'll just wait and see.
Indicators are suggesting a bit of movement could be on the horizon, some positive announcements came out last week, that being said, the announcement i am looking for is drilling to commence to improve MRE....potentially for it to multiply 2 / 3 times.
Until then, cant see ASN penetrating thru that strong resistance zone, happy to be corrected tho.
imo
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