Buyers soaking up the selling pressure and building for a run higher

Potential Buy Entry Alert SLR

 

Time Frame : Daily

Sector : Materials/Basic Materials

Key Stats : $261.58 Million Market Cap, VWAP 0.54, ASX Ranking 659, 4 Week Av Turnover $479,212, Current Turnover (Intraday as at time of alert) $588,524, PE Ratio 16.0.

Company Overview : Silver Lake Resources Limited (SLR) is a gold producing and exploration company with resources in the prospective regions in Western Australia. The flagship projects are Mount Monger, Murchison and Great Southern Projects.

Broker Consensus : BUY

 

SLR – Silver Lake Resources Limited

SLR is showing some early signs that buyers are soaking up the selling pressure. The gold producer recently pushed up off lows around 0.35 before pulling back off highs around 0.65. We now see buyers building for a new run higher. Watching now for minor contraction to build the higher lows for the entry.

 

Stock Code : SLR – Silver Lake Resources Limited

Company Website : www.silverlakeresources.com.au

Current Price : 0.54

Status : On watch for buy entry setup