Swick Mining Services (SWK)

[macduffy]

Yes, unfortunately.

It's a small holding and one that I didn't monitor closely enough.

It's not performing SP- wise but the outlook for both the industry and the company is improving.

Would appreciate your view on the outfit, drillfix.

[drillfix]

My view on it Technically would be all I could offer, as I dont really know much about the stock except what the chart says.

Well good news about the rigs and contract so thats a good start?

Lets start from the bottom up shall we.
Supports
Major support at 18.5c, then to 40c support (intermediate atm but major should it break past the upper resistance line).
Resistance line at 45.5 (got broke but fell back since) would be good to see a break above 48c though.
Next resistance would be around a heat zone around 58c but would prefer a break past 60c.
The stock has bounced off the 40c intermediate support and is heading upwards as you can see.
The stock has been tracking below the 8ma and 20ma which short term track the direction of the current trend.
NOW the stock has cracked above BOTH the 8ma & 20ma lines and it now appears that there could be a cross of the 8ma touching the 20ma
This can be good and will be resolved on if it holds and crosses tomorrow/today but friday you will have an answer.

Stochastic is showing overbought and looks to be moving partially sideways to down.
RSI is aboe 50 @ 52.133 which is good and shows some current strength to the direction of the stock. (at present)
Volume for the stock is GOOD, showing over triple volume above the 200ma volume which could signal a change in Trend of a potential key reversal.
W%R24 is around 38.8 which is not showing over bought and looks healthy.


Well, enough of that razamataz, or whatever you wish to call it.

ATM, the stock is still trending downwards and has tested the above resistance and failed. IMO, it needs to rally a bit more and break past that or try to get above 50.5c and cross the Oblique (diagonal) resistance line to change the short term direction which there are a few things running in its favour, but all the same, are required for anything to go upwards.

Anyway, the long of the short of it is, it could go anyway, good overall market conditions and some more PR by the company could push this across the line in which case you would see piles of swing traders also jump on board seeing the confirmation, which at present, is what it seems to be all about for what people are waiting for (technically).

Hope this helps~!

[Jay]

Yes, unfortunately.

It's a small holding and one that I didn't monitor closely enough.

It's not performing SP- wise but the outlook for both the industry and the company is improving.

Would appreciate your view on the outfit, drillfix.

Have a small holding in this as well and like you was not monitoring and missed the last high of 70 odd cents.

Still in profit just at present

[stoploss]

On the back of the strong update from MSV.ax today I have purchased some of these . Seems to be a seller around @ 12.25 cents as I tried to pay 12.5 and got filled in the middle.
They have recently paid a divvy ,first since 2015 and are commencing a share buyback.

[stoploss]

Shot up to 19 cents Thu/Fri . No news out so maybe something afoot ...... Might be a bit of resistance around the 20 mark . Mining services still going well . Gold price certainly helping .

[stoploss]

Swick have announced another contract win . Mining services are benefitting from the "Gold Rush"
https://stocknessmonster.com/announc....asx-6A991316/
Currently up 5 cents @ 22.5

[stoploss]

Full year results are out , not doing as well as i thought they would .
Have sold out , as I have better places to put the funds.Sharesight tells me I made 65.8 % since my 15/04/20 post
https://stocknessmonster.com/announc....asx-6A993577/