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ERL -- from explorer to producer?

Chart Forum » Stocks - ASX: short term (strictly TA) » ERL -- from explorer to producer?

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peterloh
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Friday, August 12, 2016 - 12:44 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Empire Resources Limited (ERL) is a mining company focusing on the identification of and exploration for gold and copper deposits. ERL's projects are located in Western and Southern Australia.

We have probably posted a few candidates prior to a convincing breakout. Well this little one is almost like PSC except I will attempt to follow Weinstein's teaching closely.
ERL is a clear Weinstein's breakout out, only regret is, was watching it for the last 3 days and it got away, so this morning bought it at open.
The establishing and consolidation period dated back march 2013 to July 2016, a period of 3years 4 months. It has broken out convincingly with volume. SP is above 30weeks MA and RSI is above neutral as the 5 years weekly chart below shows.
The daily chart shows that it is trending very strongly and almost double its bottom price since July. The MACD histogram is turning up
Checking into fundamentals, ERL is going into production. It is appointing a contractor to dig out the ore and a MOU with a mill to process, the end result is a $700 per oz profit multiply to whatever it has monthly. Production could be for 7 months and if they can get the underground mine going, it could ne a ten baggers or more. GL to holders and the intended.





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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Very interesting to note that up till now, almost 20 million done, we could have found one that has legs.







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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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tryhay
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Friday, August 12, 2016 - 02:52 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Peter,

Have been holding ERL since mid June; has a nice fundamental story and currently in TH. The drivel on other forums suggests 8 Cents is a target....

th


Happy trading DYOR


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peterloh
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ERL has gone up strongly this morning and since retrace as expected to test support. Currently buyers are buying at 4.1c so I bought a few more at this level. If it has legs, it is likely to run again soon.


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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Tuesday, August 23, 2016 - 11:52 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ERL has retraced to test support, it could be on its way from here.




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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Volume decline with SP, retracement test support, looks like we could have got something here with a bit of volume.




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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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tryhay
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ERL looks to have broken out of pattern & commenced stage 2 rise. Nice increase in volume with break (but may require more retest before popping higher).

Weekly chart: with PA detail - could go a lot more than 8 Cents if pattern plays out...

weekly

PS was away last week fishing (nice blue swimmer crab/s, tailor. & flat head).


Happy trading DYOR


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peterloh
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ERL is on schedule to commence production next month. Alterative road being build and to be completed by end of month. SP staying above 30weeks MA and above support. RSI still above 50%, good early Weinstein Stage 2 set up.




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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Tryhay has an high expectations for ERL looking at the above post. Monitoring it, ERL is on track for a nice and steady climb on an uptrend in the weekly chart. Of late its RSI has consistently outperformed the All Ords.




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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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gdd3
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Hi Pierre ... ERL at a very interesting place ... I guess you'll find out soon enough if current action is a Bearish pennant in play, and a move back to the low 3's min., OR she keeps climbing up that Weekly TL you have shown.

Cheer
Dolphin




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tryhay
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ERL seems to meet the Stan's weekly criteria (having broken out of stage 1 consolidation & commencing stage 2 uptrend).

The daily chart below displays a positive price action trace, both the daily & weekly MACD are positive, as is erl's relative strength.

daily

Other likely Stan candidates IMO are:
1. LRS (having broken out of stage 1 consolidation & commencing stage 2 uptrend - recent retrace could be bought)
2. CAV (is still in the stage 1 consolidation but has a good fundamental story IMO)

A doubling in share price will result in disposal of the first trance and a SL is also in place (perish that thought)


Happy trading DYOR


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peterloh
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Friday, September 09, 2016 - 09:36 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Your chart looks good Tryhay. Managed to add on a few more yesterday and probably some more today. As ERL has taken over the tenements which included the major road, they had to build an alterative road which could take a month. They are almost completing this exercise and on completion, ERL will commence immediate production. Everything must be on track, buyers appeared to be very keen on buying the shares.
If things go according to plan the SP won't be sitting around this area for long, Tryhay! I like the MACD indicator which is turning positive in your chart.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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gdd3
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Friday, September 09, 2016 - 04:09 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Tryhay ... I checked out your LRS ... and I see what you see plus some!

I do like the 'marrying' of my (slow) MACD+Histogram with the SSTO; support coming very near the 66.7% retrace but also smack on the 200sma; and the breakout of the down T/L(albeit a quite steep one) on increasing volume.

AND, talking about 'volume', check out the EquiVolume chart(in times gone past Pierre loved them). Seems to 'say' to me that DEMAND is still evident from ~ the 1c level ...we have had 2 tests now and got 'response'.

Thanks for bringing it(LRS) to the forum...

Cheers
Dolphin

Daily Chart ...




EquiVolume Chart...

}


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peterloh
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Saturday, September 10, 2016 - 07:34 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Trend appears intact. Equivolume chart shows buyers willing to pay more to get their shares. Looking forward to announcement that production has commence.

As usual, dolphin offers an alterative route ERL could very well take in the ST. I like Tryhay's version though for my own selfish benefit.




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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Thursday, September 22, 2016 - 01:22 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Bollinger Bands are tightening on BGS, so a breakout is imminent, either up or the alterative scenario that dolphin proposed could happen. I favored the former version, however whatever it is, it will reveal soon.




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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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gdd3
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Psssss!, Pierre ... I think your fixation with BGS is confusing your vision of ERL.

I was going to add that I'll just look at your charts from now on and not your verbose except your charts are always a day behind for your commentary...

At this stage I still think ERL will see the low 3's before seeing above the 4, Pierre ... but if it does get down there(low 3's) then I think your view should be considered.

Dolphin

P.S. Bollies on ERL are tightening, on the rise and MACD is at its rising trend line support so don't listen to me.

}


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tryhay
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If ERL gets back to ~ 3 cents I'll probably view it as top up territory (bought in lower than that).

Daily chart: PA within sloppy uptrend channel with indicators recycling towards zero...

daily


Happy trading DYOR


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peterloh
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So you reckon my view should not be considered now that the ducks appeared to be getting in alignment, dolphin! Like Tryhay, I will consider adding a bit more if it does come back down to 3c.
However, as you said, with Bollies tightening and MACD histogram starting to turn upwards, the chances are less that it could turn South. If I am a gambling man, I like my chances moving up north more than going south even in the very short term.I like your charts though, it illustrates very well, ERL on the move.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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You are always welcome to comment on my charts, dolphin.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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The SP of ERL has taken a battering in the last one month due to the delay on the completion of the road. The alterative road has been completed and an agreement has been signed with Golden Mile Milling for its ore. Once production commenced, ERL will be raking in the money. The POG also appears to stabilize and may start climbing again.
Although RSI and MACD histogram are still in the negative, I expect these to be improved.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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tryhay
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I'd say the retrace is complete and have topped up accordingly

Daily chart: bit more volume wouldn't go astray

daily

(Message edited by tryhay on January 16, 2017)


Happy trading DYOR


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peterloh
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Hi tryhay, there was about 1 million at 3.3c on the sell side. Since then, it has been taken out. POG is climbing again and ERL is into production now, we could be looking forward to ERL moving ahead from here.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Username: peterloh

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Wednesday, March 22, 2017 - 07:14 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ERL has a set back with its delayed production. Now that it has secured finance and also appointed a contractor, the SP has reacted accordingly. ERL is on the march. In the weekly chart, ERL has returned to retest support.






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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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tryhay
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Username: tryhay

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ERL looks set for another pop: volume now improving (buy side is loaded up), several indicators set up (on daily and weekly time frame), broken out of downtrend consolidation and they look to have sorted their mining contractor / operations out.

Weekly chart with daily detail: Looks set for some stage 2 action

Weekly

Looks like top up time IMO







Happy trading DYOR


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peterloh
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Saturday, October 14, 2017 - 10:17 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



First gold pour, production of gold , treatment of ore in two plants, going at full speed. To date has not been reflected in it's SP.



-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis or comments and insights of both macro or micro issues and not intended to be taken as investment advice or a recommendation or solicitation to buy, sell or hold to any security or to adopt any investment strategy.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. All investments involve risks including possible loss of principal. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect. It is not a complete analysis of every material fact regarding any region market, investment or strategy. Market and economic conditions do change, comments, opinions and analysis are only current as on the day it is written and may change without notice. It should not be relied upon as a recommendation or forecast by the writer.

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