RRL inv H + SRRL - gold miner
break out of an inverse head and shoulders pattern
which is a very reliable pattern.
target circa $2.80
long term hold till $5.50
strong support @ 1.30
RKQ trade ideas
inverse h + sdaily chart has a breakout from an inverse h + s pattern.
This is a very reliable pattern.
Hold on this RRL for a long term period and sell
when price hits circa $5.50
Most ASX gold miners are at a breakout level.
triangle setups etc.. GOLD will head higher tonight
as the CPI data will be released.
money supply will always expand. never contract.
its a sure thing
RRL is reaching to a critical zone...
Take a closer look at the highlighted area in which, four different lines are acting as a support...
REGIS RESOURCES LIMITED RRL(ASX)
ASX:RRL
Regis Resources Limited (RRL) - LONGRegis Resources Limited (RRL) - LONG
Regis Resources, together with its subsidiaries, engage in the exploration, evaluation, and development of gold projects in Australia. The company owns 100% interests in the Duketon project located in the North Eastern Goldfields of Western Australia; and the McPhillamys project situated in the Central Western region of New South Wales. Regis Resources Limited was incorporated in 1986 and is headquartered in Perth, Australia.
Technicals:
This is a med/long term hold for me with a phenomenal RRR. On my previous analysis I mentioned that from the extension of the descending triangle, a further move down to the $3.15-$3.35 mark was imminent (which is coincidentally where the long term trendline support, and major all time fib support of 78.6% exist). A long entry around this area would present extremely good risk/reward. Conservative traders could look for a dow entry off the bounce.
Fundamentals:
RRL is significantly undervalued. It has a PE ratio of 9.5 compared to the Metals and Mining industry average of 12.6. Furthermore, it’s PE ratio (9.5) compared to the Australian market (22.6) makes it even better value.
RRL also has very high quality earnings (see attached spreadsheet) and has historically grown by 15% annually (this year actually at @ 22.2%).
It’s net profit margins have consistently increased as well. It doesn’t take a rocket scientist to look at the escalation of the revenue and profit over the past 5 years to tell that this is a company that is very well structured and financially stable; 5 years ago it’s debt to equity ratio was 4.9% and now it is debt free and also has a 23.9% return on equity.
It’s seen some noticeable purchasing from directors and major shareholders since November, which is also a positive sign.
Although the average management tenure is 1.4 years, Mr. Jim Beyer, has been the CEO and Managing Director at Regis Resources Limited since October 15, 2018. Previously he was the CEO of Mount Gibson Iron Limited from December 2011 to May 14, 2012 and its Chief Operating Officer from November 2011 until May 14, 2012. In addition he has also held general management roles with Newmont Mining Corporation where he was responsible for the development and implementation of Business Improvement initiatives and Technical Services support across the Asia Pacific region. He served as Operations General Manager for Boddington Gold Mine from 2007 to 2010, where he was responsible for start-up preparations, commissioning and production ramp up. He was General Manager of the Pajingo Gold Mine from 2004 to 2006. He has a broad range of operating and start up experience encompassing 25 years across a number of commodities. In the past ten years he has held general management, operational and planning roles with WMC Resources at its Olympic Dam operation. Mr. Beyer holds a Bachelor of Engineering (Mining) degree, a Masters of Geoscience (Mineral Economics) and is a Vice President of the Executive Council of the Association of Mining & Exploration Companies (AMEC).
Never take stock tips. Educate yourself and always DYOR whilst implementing a rigid risk management plan before investing your own money.
RRL.ASX_ShortENTRY: 3.54
TP1: 3.09
TP2: 2.34
SL: 3.85
- ADX<25. Would like to be higher for momentum.
- RSI<35
- FFI and RS -ve
- MAs are aligned
- Break-down with decent volume
RRL - Giving a Buying OpportunityI believe RRL is giving a good medium term buying opportunity, as it had pulled back into Support and after some days of consolidation, it is showing Bullish Price Action. Price has broken the green downward sloping trendlinewith High Volume which is why I am confident that now it is ready to go up.
From the closing of the Current Daily Green Bar ($3.87) to my target of $4.85, this trade may give a potential of 23% gain.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Just following the recipeASX:RRL
All boxes checked for an entrance.
Entry: $5.37
First Target: $5.59
Second target: $6.20 ish
Let's see what the future says.
Regis Resources Head and Shoulders Bottom.I have been reading Bulkowski. Exhaustive amount of information to be digested.
Here is a trend reversal pattern.
Inverse head and shoulders formed on Regis Resources and it gapped up this morning on opening increasing chances of success. The tall and tight nature of the formation is also a predictor of success. Average gain on this pattern is around 30+% according to Bulkowski
Bounce and watch Start from long term, purple below and newer one purple from up to down, from the resistance yellow line, we want to see the move of uptrend across the purple backtest, stay within the range of purple line making sure not break through below the purple line. If it goes, this is a BUY!
ASX:RRLPrice has made a higher swing low if close above previous swig high we have a change of trend up to Fib Extension level
RRL making new highsok its made new highs.
Ascending triangle break out.
BOLD
time to average up. add to your exisiting position
Regis Resources - Three Line Strike Candlestick formationThe bullish three line strike reversal pattern carves out three black candles within a downtrend. Each bar posts a lower low and closes near the intrabar low. The fourth bar opens even lower but reverses in a wide-range outside bar that closes above the high of the first candle in the series. The opening print also marks the low of the fourth bar. According to Bulkowski, this reversal predicts higher prices with an 84% accuracy rate.
