Technical outlook – Since establishing a foot-holding from the region of $0.20, American Pacific Borates Limited (ABR) has held to a bullish correction, established earlier this month.
The two technical oscillators, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) currently hold to a potential bullish bias.
The RSI aims to indicate whether a market ‘is considered’ to be ‘overbought or oversold’ in relation to recent price levels.
The MACD is primarily used to gauge the strength of stock price movement. It does this by measuring the divergence of two exponential moving averages (EMAs), commonly a 12-period EMA and a 26-period EMA.
The current upside projection holds to a target of $0.52 where resistance lies.
Company Overview – American Pacific Borates Limited (ABR, formerly American Pacific Borate & Lithium Ltd) is an Australian incorporated company focused on advancing its 100% owned Fort Cady Boron located in Southern California, USA.
The entity operates in are Australia and the United States of America. ABR exploration assets are located in the US. Former Names: American Pacific Borate & Lithium Ltd (ABR), 17/10/2019.