Updated

Aussie OZ Minerals trading sideways. Needs to push resistance.

Oz Minerals has had a great 12 months up a bit over 200% with a pretty consistent run. It is currently having a hard time getting through that $23.50 barrier and was rejected again today with the overall ASX being down around 1% so I wouldn't read too much into it. Hopefully it will bounce off its 20 day moving average and have another run at it, but if it drops below its minor support area then I'd stay away. Worth keeping an eye on it but there are more sellers than buyers in the queue looking at Commsec (94 buyers for 139,436 units vs 133 sellers for 206,960 units) so I'd want to see it break above that resistance area before being too excited about it.

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Small 3% run so far. Happy to take it. Big test will be whether it can break resistance or not and push through that $23.50 type area.

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Almost 10% before pulling back.

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Back at the bottom of its linear regression range close to its previous support and bollingers are compressing. I'd probably wait until a close back above its 20 day moving average (the middle BB line) before any entry.

zAngus

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zAngus

NOT TRADING ADVICE. ALWAYS DO YOUR OWN RESEARCH.

MY SITES:

FIND TRENDING STOCKS: HigherHighs.com/

FIND AND SET TRAILING STOPS: SuperTrail.io

TRADINGVIEW TIPS: YouTube.com/@zAngus

Also on: