First Au Ltd V.FAU.H

Primary Symbol: FRSAF

Metals & Mining Gold

First AU Limited is an Australia-based advanced gold and base metals exploration company. The principal activity of the Company is exploration for gold and other metals in its interests in mining tenements located in Western Australia and Victoria. It is engaged in pursuing exploration programs at its Victorian Goldfields Project in East Gippsland and its 100% owned Gimlet Gold project near Kalgoorlie. The Victorian Gold Project is located in the Gippsland region, which is in the historic mining area of Swifts Creek and is focused on the Haunted Stream and Snowstorm Projects. The flagship Haunted Stream Project is located in East Gippsland Victoria (340 kilometers (km) South East of Melbourne). The Company’s Gimlet Gold Project is located approximately 15 km northwest of Kalgoorlie, Western Australia EL26/174 and application M26/849 -9.6 square kilometers. The Snowstorm Prospect is located within the historic Swifts Creek Goldfields in the East Gippsland region.

OTCPK:FRSAF - Post by User

First Au Ltd

Bullboard Posts

Post by TAPickson Sep 30, 2010 9:31am

579 Views

Post# 17511033

Once again?

About two weeks I did this chart and setup an alert in QuoteTracker to remind me when it was going to hit the bottom trend line again. That alert was triggered yesterday. The reason is hoping for a bottom trend bounce. Indicators are not quite where I like them to be for me to take a position, but a few more days and they will be. We might we a little pass the trend line but support has to hold or all bets are off. Also note that the formation its now painting is a Bullish Symmetrical Triangle and you can read more about that here.

So the play would be to get an entry at
.52 (on the trend line), stop loss at support
.50 (for 3.8% exposure) and initial target of
.57 (top of down trend line) for gains of 9.6% followed by the next resistance line at
.63 for gains of 21.1%.

Chart can be found here.

Cheers!
-Claude.