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Potential Buy Entry Alert to Watch RED
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Key Stats : $342.19 Million Market Cap, VWAP 0.275, ASX Ranking 454, 4 Week Av Turnover $1,007,693, Current Turnover (Intraday as at time of alert) 1,076,896.
Company Overview : Red 5 Limited (RED) is a mineral exploration, development and production company. Currently, RED’s flagship project is the Siana Gold Project in Philippines. RED also has interest in Mapawa and Montague Joint Venture projects, Darlot Gold Mine & King of the Hills Gold Project.
Broker Consensus : Not covered my a major broker
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RED – Red 5 Limited
RED has been in contraction mode after spiking up towards 40 cents early September. We see the action building for another run higher as longer term buyers start to step back into the action. Watching now for an increase in buying activity to press price higher out of contraction and build the higher low for entry.
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Stock Code : RED – Red 5 Limited
Company Website : www.red5limited.com
Current Price : 0.285
Status : On watch for potential higher low and push up through 0.40
