Hk Stock- Burwill 0024 2018 Multibagger?
Many of you will know this counter as the company that signed the offtake deal with alliance mineral for its lithium produce. This company is definitely worth a look, its previous attempts to turnaround with business have all seen its share prices multibag. While previous attempts were not sustainable, this time round, the lithium story seems bright and more sustainable due to the current trend in EVs.
Technically, Burwill displayed a bullish backtest of the downtrend line it broke recently. Also it displays a cup and handle pattern and currently it is playing out its handle.
If we zoom into the recent uptrend established:
Recently it retraced to 61.8% fibonacci and held firmly above the 55MA (Yellow line). Hence I took position at $0.315 and $0.33 dydd.
Target: This blog believes that it could first head to $0.55
Please DYDD this is not a buy or sell call
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