Company Overview: Australian Strategic Materials Ltd (ASX: ASM) is an Australia-based, vertically integrated producer of critical metals used in advanced and clean technologies. The company extracts, refines, and manufactures high-purity metals, alloys, and powders, supplying directly to global manufacturers across the clean energy, electric vehicle, defense and aerospace, electronics, and communications sectors.

As per the previous recommendation on ASM on 06 October 2025, a ‘Speculative Buy’ rating was given on the stock at AUD 0.765, and noted below are the details of support and resistance provided in the previous report:

Recommendation Summary as on October 06, 2025

ASM Daily Chart

Considering the target levels achievement, current trading levels and associated risks. Hence, we give 'Sell' recommendation on the stock at the current market price of  AUD 1.30 as of October 13, 2025, at 12:51 PM AEDT.

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 October 13, 2025, at 12:51 PM AEDT. 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 downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.