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This report is an updated version of the report published on 21 October 2024 at 3:55 PM AEDT.
Company Overview: Chrysos Corporation Limited (ASX: C79) specialises in the advancement and provision of mining technology. Among its offerings, PhotonAssay is a cutting-edge technology used for analysing gold, silver, copper, and various other elements. Straker Limited (ASX: STG) is engaged in providing language and subscription services. The company offers the RAY Translation Platform, which utilises a combination of machine translation and a crowdsourced pool of translators. Kalkine’s Market Event Report covers the Investment Summary, Event Summary, Data Insights & Analysis, Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.
Investment Summary
Event Highlights
Data Insights and Analysis
Key Drivers versus Key Challenges
Based on the above data, two ASX stocks have been identified to showcase the momentum.
1) Chrysos Corporation Limited (ASX: C79) (Recommendation: ‘Speculative Buy’ at AUD 5.080, Potential Upside: Low Double-Digit) (M-cap: AUD 593.41mn)
Company Overview: C79 specialises in the advancement and provision of mining technology. Among its offerings, PhotonAssay is a cutting-edge technology used for analysing gold, silver, copper, and various other elements.
The stock has witnessed a correction of ~4.54% in last one month, and over the past one year, it decreased by ~18.81%. The stock has a 52-week low and 52-week high of AUD 4.400 and AUD 8.720, respectively, and is currently trading below the 52-week high-low average. C79 was last covered in a report dated ‘28 August 2024’.
2) Straker Limited (ASX: STG) (Recommendation: ‘Speculative Buy at AUD 0.400, Potential Upside: Low Double-Digit) (M-cap: AUD 25.73mn)
Company Overview: STG is engaged in providing language and subscription services. The company offers the RAY Translation Platform, which utilises a combination of machine translation and a crowdsourced pool of translators.
The stock is down by ~10.11% in last three months, and over the last six months, it has decreased by ~15.79%. The stock has a 52-week low and 52-week high of AUD 0.350 and AUD 0.590, respectively and is currently trading below the 52-week high-low average. STG was last covered in a report dated ‘26 June 2019’.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 21 October 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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Past performance is not a reliable indicator of future performance.
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