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Trade the Bollonger Band Squeeze

CZN - another cobalt prospect

Chart Forum » Stocks - ASX: short term (strictly TA) » CZN - another cobalt prospect

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peterloh
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Username: peterloh

Post Number: 4649
Registered: 03-2003

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CZN "Corazon Mining Limited (CZN) is a Perth-based exploration company exploring an old nickel-copper mining camp in Canada. Corazon's main projects include the Lynn Lake Project and Beaucage Lake in Canada, and Top Up Rise Project in Australia. "
Nothing has been mentioned that the company is drilling for a mineral very much in demand, cobalt.
I have been told that a geologist was so sold on the cobalt story, he bought 18million shares in the company. Just bought some at 5c yesterday and today after being convinced that we have a good one here. What do others here think?

CZN appears to be a stage 2 candidate in Weinstein's mode, both in the weekly and daily chart. MACD and RSI are both turning down, however RSI is still above the 50% neutral. Yesterday the SP tested resistance at 5.9c but pulled back and it does look like it will make another attempt for a breakout soon.

Appreciate any comments forthcoming and anyone with a different perspective 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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tryhay
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Username: tryhay

Post Number: 1738
Registered: 09-2005

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Pete, it looks late in the current swing to buy into CZN IMHO: with structure (shown in green with red circles) and fibs not working for you.

The weekly chart below shows that Stan's criteria were achieved early in this most recent swing; making me question if PA has the herbs to keep on going without some kind of retrace (even though the fundamentals are going well) - maybe it will but if I can suggest that you have a tight stop on at least 1/2 your position.

Weekly







Happy trading DYOR


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peterloh
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CZN yesterday reported

"OUTSTANDING COBALT METALLURGICAL RESULTS Mt Gilmore Project
 First pass flotationtestworkrecovers92.2% ofthecobalt, 89.0% ofthecopper and 75.5% of the gold in 11.1% of mass  Concentrate graded at 7.38% cobalt, 1.29% copper and 4.1 g/t gold  Testwork completed on reverse circulation drill chips –improvements expected  Cobaltand copper present as sulphide minerals, gold associated with sulphide  Viable production of a bulk concentrate for processing and separation"

After running up to 5.9c, yesterday was sold down to 5c.Strong support for CZN today at 5c. With about 8 million in cash, there is a lot of drillings yet to be done. It is a mammoth discovery, thus my friend was getting excited.


-------------------------------------------------
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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dydavo
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Username: dydavo

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Thx Peter. I's now on my watch list, with other Co stocks. Those and rare earths(LYC.ax) are the only small cap specs that I am watching now. Not long any at the moment.

Force index 13 is back to 0, and that suggests that it is back nean an equilibrium of demand and supply. On weight of evidence a buy for me, but will need to find a few $$$ for it tomorrow!






David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion 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. Shares might be sold without notice. 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 should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Wednesday, March 08, 2017 - 05:23 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)



Report announced in ASX, Dydavo:


Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to announce that preliminary metallurgical test work completed on samples from the Mount Gilmore Project (“Project”)in New South Wales has delivered excellent results.
Simple flotation testing has yielded a recovery of 92.2% for cobalt,89% for copper and 75.5%for gold,in a total concentrate with 11.1% mass recovery.
Test work was conducted on a representative sample composited from reverse circulation (RC) chips from the Company’sQ4 2016 drilling program,which intersected mineralisation from near surface to depths of up to 151 metres. The composite sample contained 0.84% cobalt, 0.21% copper and 0.47 g/t gold.
These are first pass results and the Company expects that even better results will be achieved with optimisation. Due to the fine nature of the material, samples from RC chips are typically difficult to control during flotation and it can be expected that the results would improve for testwork carried out on core or rock samples.
Initial sighter-gravity concentration testwork indicated that a high-grade cobalt concentrate can be obtained from a small fraction of the feed mass. The results suggest that a 12.2% cobalt grade concentrate can be produced from only 1.31% of the initial mass. This has the potential to significantly reduce downstream equipment size and reagent consumption, improving both the Project’s CAPEX and OPEX.
Mineralogy has confirmed the Company’s expectations-cobalt is present as cobaltite, copper is present as chalcopyrite and the gold is predominantly associated with the sulphide minerals. The similar nature of the sulphide minerals,together with the gold association,has the potential to simplify the beneficiation process by the production of a bulk concentrate.
The test work was managed by internationally recognised metallurgical consultants, METS Engineering (see competent person statement below) and independently carried out at ALS laboratories in Perth, Western Australia.
OUTSTANDING COBALT METALLURGICAL RESULTS Mt Gilmore Project
 First pass flotation test work recovers 92.2% of the cobalt, 89.0% of the copper and 75.5% of the gold in 11.1% of mass  Concentrate graded at 7.38% cobalt, 1.29% copper and 4.1 g/t gold  Test work completed on reverse circulation drill chips –improvements expected  Cobalt and copper present as sulphide minerals, gold associated with sulphide  Viable production of a bulk concentrate for processing and separation
A micrograph of the initial flotation concentrate is shown in Figure 1, below. Cobaltite is abundant,exhibiting a highly reflective,violet-steely grey colour, and other sulphides including chalcopyrite and pyrite are also abundant,exhibiting their yellow/dark gold colour


-------------------------------------------------
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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dydavo
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Username: dydavo

Post Number: 310
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Thank you Peter. It sounds impressive!

Perhaps as an interesting adjunct, the NYSE copper stocks index seems right in the zone on support. Buy or fail here, with TMO 13 day just below equilibrium zone = 0%.

Last time TMO 13 day it was at this point was late Dec 2016






David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion 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. Shares might be sold without notice. 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 should not be relied upon as a recommendation or forecast by the writer.

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tryhay
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Username: tryhay

Post Number: 1752
Registered: 09-2005

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Monday, March 20, 2017 - 10:56 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)



One has to wonder how much if this "news" was already baked into the CZN price:
"OUTSTANDING COBALT METALLURGICAL RESULTS Mt Gilmore Project
 First pass flotationtestworkrecovers92.2% of the cobalt, 89.0% of the copper and 75.5% of the gold in 11.1% of mass  Concentrate graded at 7.38% cobalt, 1.29% copper and 4.1 g/t gold  Testwork completed on reverse circulation drill chips –improvements expected  Cobalt and copper present as sulphide minerals, gold associated with sulphide  Viable production of a bulk concentrate for processing and separation"


Weekly chart: maybe the alignment of fibs will interrupt the retrace, or if not maybe the short term support (red line) holds.

Weekly

Worth waiting till demonstrated bounce before buy in IMO







Happy trading DYOR


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peterloh
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Tuesday, March 21, 2017 - 01:50 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)



Talking about Weinstein's stage 2 pattern, this is an excellent breakout out from stage 1 and come back to retest the support both in the weekly and daily chart. You have picked up well Tryhay, on the volume on the day of the break out down to low volume on the retrace. If it holds for another week, this one will be a text book pattern.
Fundamental, the last hole they drilled came out with a narrow vien at depth. However they are drilling into a gigantic system aiming for the mother lode, I am more optimistic for the longer term as this is in a proven area of humongous proportion.






-------------------------------------------------
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.
Trade Trends with Bollonger Bands and Twiggs Money Flow

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