Battery Metal Co. Now Ready to Advance

Source: Clive Maund 07/24/2023

Technical Analyst Clive Maund takes a look at Global Battery Metals Ltd.‘s 6-month chart to tell you why he believes it is now ready to advance.

After making a good quick, profitable trade in Global Battery Metals Ltd. (GBML:TSX; REZZF:OTCMKTS) early in the year, we bought it back at a fairly good price in the middle of March, expecting it to start higher soon, but evidently, it wanted to mark out a larger base pattern before doing so and that it has now done as we can see on its latest 6-month chart below.

On this chart, we can see that the base pattern that has built out since mid-March may be described as either a Head-and-Shoulders bottom as shown or as a Cup and Handle base, but whatever it is described as it looks like it is now ready to advance out of this base with a powerful break higher on strong volume last month followed a Flag or Pennant consolidation pattern that looks about complete — meaning that another upleg is probably imminent and as this Flag also forms the Right Shoulder of the H&S pattern there is a good chance that the next upleg will drive the price through the resistance around CA$0.21 marking the upper boundary of the entire base pattern without too much ado which could mark the start of a major growth phase.

We, therefore, stay long, and Global Battery Metals is rated a Strong Speculative Buy here.

Global Battery Metals’ website.

Global Battery Metals Ltd. closed for trading at CA$0.16, $0.12 at 11.30 am EDT on July 11, 2023.

_{Posted on CliveMaund.com at 11.30 am EDT on July 11, 2023.}

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1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Global Battery Metals Ltd.
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CliveMaund.com Disclosures

The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.

( Companies Mentioned: GBML:TSX; REZZF:OTCMKTS,
)

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