SL1 has remained in down trend since the 4.2c high in July but is now showing signs of a return to strength. Mid September volume reached an all time low around the base established at 1.8c, since this low the volume has stepped back in lifting the SP to the first resistance point at around 2.5c where significant volume has remained. The next resistance point in this case becomes the target at 3.5c
This target is supported by underlying fundamental changes in the company which has recently transitioned to a miner with targeted first shipment of zinc early in the October quarter. The second catalyst in support of growth is the highlighted tenement acquisition by the end of December this year.
My initial target is 3.5c which represents a 52% increase from the last traded price, stops set at 1.8c which is the all time low representing a favorable risk to reward ratio of 2.4
This target is supported by underlying fundamental changes in the company which has recently transitioned to a miner with targeted first shipment of zinc early in the October quarter. The second catalyst in support of growth is the highlighted tenement acquisition by the end of December this year.
My initial target is 3.5c which represents a 52% increase from the last traded price, stops set at 1.8c which is the all time low representing a favorable risk to reward ratio of 2.4