Fundamental background: Cobalt is necessary for battery manufacturing and expansion.
Tech scenario: The entry point is "E" or break out of "D". The target is 0,80 CAD.
This stock is following a familiar pattern. Bull flag, consolidate, breakout, bull flag, consolidate, breakout - rinse and repeat. Looks like it could happen again at any moment provided we get some volume! Fundamentals are fantastic too.
I've created a list of companies to represent the price of Cobalt Mining Stocks on the Australian Stock Exchange, similar to an ETF.
Cobalt appears to be in early stages of a market cycle with utility across high-growth technology/industrial sectors: electric vehicles (lithium-ion batteries), semiconductors, renewable energy, etc.
Please do your own research...
JRV have been trading in channel over the past few weeks. The recent topside break was rejected and the momentum has now reset raising the probability of a second test of the upper channel boundary. Target for this move would be 25%. Upon failure a flag is likely to form increasing target. Based on this I perceive this to be a low risk entry
Weekly shows a strong channel has formed on ASX:JRV , overall scandium, cobalt and nickel sectors are bullish. Likely to test channel tops in coming weeks
JV currently following a nice trend, broke out a few days ago but retreated back into the channel. Expect it to move sideways for a couple more days before moving into the 17-19c range. Good hold with decent FA to back it, has a tight register.
