Short Term Trading Week Starting: 26 Mar, page-82

STTCOMP BAT, TA Long​

Battery Minerals​

Graphite Production​

MC $56m; Cash $5.9m​

Didn't take long for one of the "second wave volume" watch list stocks to pop up.​

On the 22nd January BAT announced binding offtake agreements for 40,000tpa graphite production at their Montepuez graphite project.​

High volume followed causing the SP to spike at 11 cents.​

Profit taking, and maybe a short attention span, saw it drop back on low volume to it's support level of 7.1 cents.​

Today saw the granting of the Mining Lease for the Montepuez graphite project.​

It looks like the second wave of volume might be starting up which has already seen BAT break through it's resistance level of 8 cents. Quite a few of the big winners over the last six months have run hard from the second wave of volume.​

Let's see if this theory holds up.​

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