Technical outlook – Viewing the daily chart assessment, the bullish sentiment was established from the $4.50 trough in late March, and since then has continued in a northbound fashion until recently, six-days ago, the market hit resistance from $7.50.
From the initial mild pullback, the two leading indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) both at present, are strengthening to a bullish bias.
A break above $7.60 is expected to give the bulls call to $8.20. Reassess from there.
Company Overview – Tribune Resources Limited (TBR) is a mineral exploration, development, and production company, with projects in Western Australia and Africa.
TBR’s current focus is on the exploration and development of the East Kundana JV Project in Western Australia. Former Names: Tribune Resources NL (TBR), 16/02/2011.