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Trade Trends with Bollonger Bands and Twiggs Money Flow

Riva Resources Limited (RIR)

Chart Forum » Stocks - ASX: short term (strictly TA) » Riva Resources Limited (RIR)

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spdfgh
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Saturday, March 17, 2018 - 02:12 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)



Riva Resources Limited (RIR)
Riva Resources Limited (RIR, formerly Dragon Energy Limited) is a mineral exploration company with projects located in Western Australia. RIR's flagship project is the Tabac Cobalt-Gold Project. RIR also has a portfolio of exploration tenements with numerous multi-commodity targets, including Fe, Mn, Au and base metals in Western Australia.

Former Names
Dragon Energy Limited (DLE), 14/12/2016

https://www.marketindex.com.au/asx/rir

https://rivaresources.com.au/








Just another potato.

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tryhay
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Hi spdfgh,

RIR does look like it ticks most of the boxes: Down-trended ~5 years, consolidated the last 3 years, looks to have established the higher low, with MAs supporting price ATM.

Weekly RIR chart: FWIW Looks to have established Stan's stage 1 with fundamentals & technicals in alignment with accumulation volume to boot.

rw

Close to 4 B shares on issue - expect a consolidation by say March next year.







Happy trading DYOR


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spdfgh
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Market Index has RIR listed as 1.8 billion shares on issue can you double check your source?
RIR is a nearology play with VIC and PGM which are all close to the CLQ's Cobalt tenement.
Personally I prefer RIR's tenement to VIC's.


Just another potato.

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tryhay
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Hi spdfgh,

FWIW there is always an alternative POV: ASX website & RIR recent presentation shows that close to 3 billion shares are currently on issue with 1 billion escrowed.

p

From my perspective what is more important is that the chart looks set & a good find!


Happy trading DYOR


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spdfgh
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Ok shows how far you can trust Market Index!
3.8 Billion shares makes this somewhat more risky, more so if the majority are in the hands of the general public.

Maybe in light of the limited amount of historical volume turnover could be a good sign?
Yet 2.8 billion plus is one hell of a lot of shares on issue! only to be added to by 1 billion!
They are about to change names to Hylea Metals Limited, but I doubt this will effect a reduction of share issue.

Also I wouldn't put too much faith in an historical Stan (not Harvey!) Weinstein analysis, I don't know how relevant past company activities are to current activities and price action.

Can't stop thinking about the 3.8 billion shares out there, what would a consolidation look like 3.2:1 to bring it line with their tenement contemporaries?

(Message edited by spdfgh on March 22, 2018)


Just another potato.

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dydavo
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Thanks for the link to marketindex - excellent site.







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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spdfgh
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tryhay,
That 2,803.9M shares includes the 1 billion escrowed Feb 2019.
So until 29 Feb 2019 the share issue is 1,800M.


Just another potato.

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