(ASX:WKT) Walkabout Resources Forecast"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 confirmed: 72.93% chance it will breakout to the trend (Bearish).
If confirmed: Wouldn't surprise me if a positive announcement was released before the breakout to manipulate it to the upside.
Day Trade:
Target: 26.5c (40% increase) @ Late Feb/Early March
Target analysis:
Resistance @ Weekly 50MA
Likely Descending Triangle - Resistance (Upper Red Line)
Previous Support @ 25.5c (Green Dotted Line)
High Volume Area 25.5c - 27c
FIB Retracement = Golden Pocket (0.5 - 0.618)
Support @ Current Price
Support Analysis:
Multiple Weekly Close above 100MA (Orange Line)
Descending Triangle Support (Bottom Green Line)
Previous Resistance 2018 @ 15c - 17.5c
Stoch RSI Oversold
Daily MacD Cross
Declining Volume
Note: Bearish Pennant on lower time frame (Dotted Pink Triangle)
Standard pattern breakouts suggest pennant breakout will follow the trend (Bearish) at a 55.19% percent probability.
Support currently outweighs the standard pattern breakout expectation.
Descending Triangle likely .
If price breaks 100ma expect to see 12 - 14c (Support on 200MA) = descending triangle invalidated?.
WKT
$WKT $0.145 doji day potentail breakout #232Eventually this will breakout
The most recent volume action actually looks as it should pre break
Chart has notes
WKT $0.155 NEWS and teetering on BOVolume speaks volumes
BO confirmed @0.175+
MC 41M @ 0.155
Rerate potential
FD holding
$WKT just add cobalt for bang bangJust see what happens when you add cobalt to copper and silver and everything else they have.
Cashed up and severely undervalued
$WKT add 90kms of joyJust doesnt get any better does it really.
Just try and hold it back now
Rerate time kids
