Markets open weaker and sellers step in so the alert is now cancelled

Sellers step in on the open and push price lower through 0.27 so LCK alert is now cancelled.

Alert History

Original Alert 20/05/19

New Buy Entry Alert LCK

Time Frame : Daily

Sector : Energy

Key Stats : $158.96 Million Market Cap, VWAP 0.285, ASX Ranking 607, 4 Week Av Turnover $375,271, Current Turnover (Intraday as at time of alert) Closed.

Company Overview : Leigh Creek Energy Limited (LCK, formerly Marathon Resources Limited) is an emerging gas company focused on developing its Leigh Creek Energy Project (LCEP), located in South Australia.

Broker Consensus : BUY

LCK – Leigh Creek Energy Limited

LCK is looking primed and ready for a run to new highs. We can see that the volume has dropped off on the pullback that suggests that current buyers are holding so now we want to see a kick up on volume on a rally to show buyers on the sidelines are jumping into the action. Happy to buy on a push up through 0.32 and will hold the stop loss after entry triggered at 0.27. If price falls down through 0.27 prior to entry then we are happy to cancel the entry and re-assess the action.

Stock Code : LCK – Leigh Creek Energy Limited

Company Website : www.lcke.com.au

Current Price : 0.29

New Buy Entry (Trigger Level) : 0.32

Potential Sell Exit Zone (Stop Loss) : 0.27

Status : On watch for Buy Entry Trigger