Target Reached

Regis Resources Ltd

October 21, 2019 - 6 months ago
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Action Buy
Term 15 Days
Called At $4.8
Target $5.04
Current Price N/A
Performance 5.00%

Technical outlook – Many chartists, traders/investors often look for countless patterns and signals to assess the trends in various stocks. Additionally, we all use charts and other tools to identify patterns that can be used as a basis for investment decisions. There are many different forms of technical analysis: Some rely on chart patterns, others use technical indicators and oscillators, and most use a combination of techniques.

Viewing the two technical oscillators, the Relative strength index (RSI) and the moving average convergence divergence (MACD), at present, are both forming a potential bullish breakout, mainly assessed from the MACD.

The MACD is primarily used to gauge the strength of stock price movement. It does this by measuring the divergence of two exponential moving averages (EMAs), commonly a 12-period EMA and a 26-period EMA. It is envisaged that Regis Resources Limited (RRL) share price will retain its bullish sentiment once confirmation is given from the MACD and encounter renewed demand to strengthen prices towards a foreseeable target at $5.04.

Company Overview -Regis Resources Limited (RRL) is a gold production and exploration company with a focus on its tenement package in the Eastern Goldfields of Western Australia. Its main projects include Moolart Well, Garden Well, Erlistoun and Rosemont. RRL also conducts exploration activities in several deposits in Eastern Goldfields. Former Names: Johnson’s Well Mining NL (JWM), 30/8/2004. Regis Resources NL (RRL),23/01/2008.

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