Price is set for a run to new highs as buyers support higher levels

New Buy Entry Alert GRR

Time Frame : Daily

Sector : Materials/Basic Materials

Key Stats : $306.7 Million Market Cap, VWAP 0.265, ASX Ranking 453, 4 Week Av Turnover $1,027,375, Current Turnover (Intraday as at time of alert) $419,281, PE Ratio 2.7, Div Yield 7.55%.

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.

Broker Consensus : Not covered by a major broker

GRR – Grange Resources Limited

GRR is holding up nicely and ready to continue the trend higher. The long term action looks set for a good run higher so time to jump on board. Happy to buy on a push up through 0.275 and hold a stop loss at 0.24. If price falls below 0.24 prior to entry, will cancel the alert and re-assess the action.

Stock Code : GRR – Grange Resources Limited

Company Website : www.grangeresources.com.au

Current Price : 0.27

New Potential Buy Entry (Trigger Level) : 0.275

Potential Sell Exit Zone (Stop Loss) : 0.24

Status : On watch for buy entry trigger