What does Strategic Elements Ltd do?
Strategic Elements Ltd [ASX:SOR] is a company with a mandate to back Australian resources and technology projects.
The company is part of a government program giving tax breaks for investors. Meaning most shareholders will pay no capital gains tax when they sell their shares.
That makes this company unique to the ASX.
Presently the company has two resource projects in WA and New Zealand.
However, the project which is front and centre is a technology developed by the University of New South Wales, which they are backing. Tiny cube shaped memory cells, 10,000 times smaller than a human hair.
Increasingly more and more demands are being made on storage space on all our devices. This technology addresses that problem. It is cutting edge, and could revolutionise how data is stored and used.
It will enable more data to be used faster, with less space and at less cost.
This will service a massive worldwide market.
That’s interesting, but what is the chart telling us?
What does the chart look like?
I find it helpful to bring up a chart. Here is the daily chart of SOR.
The big day in mid-May was the news to the market of this new technology. Since then the share price has been in a sideways pattern, which it is threatening to break out of.
What now for SOR shares?
The company could possibly have more news to announce soon. Let’s wait and see.
You could watch it now; see if the recent low holds and look for any higher bottoms.
You just need a little trading knowledge to know how to proceed. You can get that here.
You must be aware of stocks like these, and be ready for any potential moves.
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