Price building as buyers defend higher levels for a new move up

Potential Buy Entry Alert GRR

 

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $196.75 Million Market Cap, VWAP 0.175, ASX Ranking 567, 4 Week Av Turnover $95,460.

Company Overview : Grange Resources Ltd (GRR) owns and operates iron ore mining and pellet production business located in the northwest region of Tasmania. GRR focuses on magnetite projects in two main areas, namely, Savage River Operation and Southdown Project.

GRR – Grange Resources Limited

GRR is starting to build some interest as buyers hold higher levels looking to push price up out of the current contraction. We are watching for the volume to pick up as buyers build the buy entry setup with the first port of call for a move up, at 0.30. The action may take some time to play out as the news flow builds.

 

Stock Code : GRR – Grange Resources Limited

Company Website : www.grangeresources.com.au

Current Price : 0.175

Status : On watch for higher low buy entry setup