$CKA - COKAL - Running nicely but can it break resistance?

COKAL (CKA:ASX)

Its had a good 3 month run including around 70%+ gains but is up against resistance around that 62-64 type mark. RSI has dropped back down to reasonable amounts so hopefully it can break through and continue its run. One to watch.

Cokal Limited is an Australia-based exploration and development stage company. The Company is engaged in identification and development of coal within the Central Kalimantan coking coal basin in Indonesia. The Company has joint arrangements to explore for coal in Tanzania. The Company's segments include exploration of coal in Indonesia, Tanzania and Australia. Its tenements in Central Kalimantan, Indonesia include Bumi Barito Mineral (BBM), which covers an area of approximately 15,000 hectares; Tambang Benua Alam Raya (TBAR), which covers an area of approximately 18,850 hectares; Borneo Bara Prima (BBP), which covers an area of approximately 13,000 hectares, and Anugerah Alam Katingan (AAK), which covers an area of approximately 5,000 hectares. Its tenements in West Kalimantan, Indonesia include Silangkop Nusa Raya (SNR), which holds over three exploration licenses in West Kalimantan close to the Malaysian border. The SNR Licenses cover an area of approximately 13,000 hectares.

Comment:

Yes it can - smashed it - up 9% on open.

Comment:

Nice big thump of volume came through yesterday. Looking for it to break 7 cents and continue now hopefully.