Kevi's morning charts 17th Dec

Morning all,

Its heading into the XMAS/New Year period, and for anyone who hasn't traded at this time of the year before you will find it very quite as the volumes drop right off. I for one will be taking some time over this period to spend some quality time with the family.

Here are some charts of interest.

Elemental Minerals (ELM) - Closed @ $1.20 yesterday which is a new closing high. I have draw the resistance @ $1.19 from that previous spike but I negated to mention that the recent high of $1.25 might offer some resistance also. Nevertheless, its a nice chart and one which looks to have more left in the tank.



Ausenco Limited (AAX) - Its spend a long time consolidating under the $3.00 resistance level, though it decided yesterday that it was time to move on. Strong buying lead to a breakout to close @ $3.13 after hitting a high of $3.19.

Here is the chart from during the day yesterday after it had made the break. There is no real resistance now until $3.80.



Globe Metals & Mining (GBE) - with urnaium stocks still performing well, this stock seemed to be bucking the trend until they announced they had finally raised funds through placement @ 25c. The market liked the news and we saw some decent buying and a turnaround for Globe. Needs confirmation today, but a break above the MA's would be a real positive.



Prima Biomed (PRR) - Looked at this at 11c yesterday and didnt think it would push on. Before I knew it, it was looking to close @ 12.5c on what was impressive volume. Chart suggests there is a fair bit more upside here, but who knows with this stock as sometimes these BIO stocks have a mind of their own.



Altona Mining (AOH) - a bit of a personal favourite this one. Currently setting up a nice pennant pattern here while consolidating. Break point is around the 36/36.5c level which I will be waiting for. One to definitely keep an eye on as there is news due soon. Chart was done on Wednesday, so its missing yesterday's candle which was not work doing a new chart for.



Finally, Flinders Mines (FMS) - Here is a weekly chart I did at the start of the week. Seems to want to still consolidate and retest the old weekly downtrend as it closed back @ 14.5c yesterday. I think there is some big potential in this stock once it starts moving. One to keep an eye on.



Cheers and good luck today

Kevi