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Jerm88
Nov 2, 2021 7:55 AM

QPM @ 2 NOV 2021 

QUEENSLAND PACIFIC METALS LIMITEDASX

Description

Text me if you have any questions/comments for me.

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QPM
- Previous analysis was done on 15 Oct (red arrow) - Suggested entry at current levels if comfortable with the setup and the stock’s price volatility
- Since then, the stock created a LH and quickly fell back below the mid-term support
- Short-term average no longer offers a strong support -> not a good sign
- Today’s price action has broken through the 22.5 cents support level
- The mid-term average is now a resistance
- Immediate support looks to be around the 20-21 cents zone
- Strategy-to-buy (DYOR) – Suggest waiting for the stock to recover to around $0.27 levels
Comments
hitchcoxg
Why did the stock suddenly Tank? Will this be a possible re-entry point?
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