Ausdrill Limited is an exploration and production drilling company. The Company focuses on providing a range of services to mining clients. It operates in four segments: Drilling Services Australia, Contract Mining Services Africa, and Equipment Services & Supplies. The Drilling Services Australia segment is engaged in the provision of drilling services and drilling equipment, including drilling and blasting, in-pit grade control, exploration drilling and wet water well drilling in Australia. The Contract Mining Services Africa segment is engaged in the provision of mining services, including drilling and blasting, in-pit grade control, exploration drilling and earthmoving in Africa.
Taking a look at the Daily chart for ASL a significant low pattern is in place with a double bottom shown across the December 2018 and January 2019 period. Price has continued to post higher lows (HL) with the recent breakout over $1.25 moving back to test this level. Todays price action is a bullish flag breakout with the potential to test $1.55 resistance. Stop Loss is shown at $1.19, price moving back to this level would infer a trend breakdown.
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