Mineral Resources Ltd (ASX: MIN)

MIN is an ASX-listed diversified resources entity with extensive operations in lithium, iron ore, energy, and mining services across Western Australia. The company has been providing safe, high-quality, low-cost mining, mining construction and mining infrastructure in Australia.

As per the previous ‘Earnings Hunter’ Report published on MIN on 23 October 2024, Kalkine provided an ‘Attractive’ stance on the stock at AUD 35.99 based on ‘Earnings Hunter Score’, and the stock price has moved by ~18.64% since then.

Recommendation Summary as on 23 October 2024

MIN Daily Chart

Considering the stock has surpassed its R2 level and uncertain macro environment, the stock seems ‘Unattractive’ at the current market price of AUD 42.70, as of 31 October 2024, at 11:25 AM AEDT. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. 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 31 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 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.