Breakouts Betray Doubts but Trends are Friends

Team Veye | 20-May-2024

The stock markets offer different types of risks and often challenge even the in practice strategies. A disciplined trader is able to extract maximum benefit from these strategies since most of the multibaggers stocks are usually the end result of fine execution of such strategies.

While the breakout strategy primarily follows the Price Action, when trading volume changes significantly with price moving beyond a predetermined support or resistance level, in the going with the trend strategy, investors spot stocks with significant momentum and make a trade when the momentum grows in the same direction. Spotting Multibagger Penny Stocks requires implementing such strategies in unison. 

In the Trend-Following Strategy, investors must spot stocks with a strong uptrend or downtrend. Astute investors have been successfully deploying these strategies and able to identify Potential Multibagger Stocks by observing the price charts to reap the maximum benefit. 

Best potential multibagger stocks currently identified by either strategy are -:

Australian Gold and Copper Limited (ASX: AGC)

Australian Gold and Copper Limited is a company focused on exploring and developing its diverse gold portfolio located in the Lachlan Fold Belt in New South Wales. AGC's portfolio has advanced exploration projects demonstrating significant potential for multi-million ounce discoveries. 

The upcoming year is set to witness aggressive exploration activities, with a primary focus on Hilltop and Achilles targets. AGC showcases three drill-ready copper projects spanning approximately 1,835 km2 within the Central Lachlan Fold Belt in New South Wales, a region recognized for its world-class district with substantial untapped potential. 

Despite relatively being in the early stages of exploration, the company's project fundamentals and recent results instill confidence in the establishment of a robust resource base and commercial viability over the longer term, eventually with a potential to become one of the Future Multibagger Stocks

AGC's ambitious drill activities planned for the year further bolster the potential for commercial success and the discovery of prospective resources, paving the way for significant expansion in the company's growth trajectory as the portfolio of advanced exploration projects is anticipated to be capable of hosting multi-million-ounce discoveries, underlining the scale of the company's exploration ambitions. 

The company maintains a minimal expense base, indicative of efficient financial management. Additionally, AGC has recently secured substantial funding of $10.1 million in the previous quarter, further enhancing its capabilities to drive growth and undertake ambitious exploration initiatives.

Renegade Exploration Limited (ASX: RNX) 

Renegade Exploration Limited (ASX: RNX) remains committed to advancing its near-term projects for commercialization while also pursuing substantial long-term growth through continued exploration efforts and the establishment of a robust mining asset base.

This strategy positions the company for both immediate project development and sustained expansion over time.

The Company’s recent drilling and field work at the Mongoose Project had confirmed significant copper-gold mineralization extending from ground level to a depth of 200 meters. 

Renegade also identified a significant drill target named "Mongoose Deeps" north of the Mongoose prospect which led to it receiving a $300,000 Collaborative Exploration Initiative (CEI) grant from the Queensland Government to fund drilling of the target. 

Renegade offers investors a distinctive investment opportunity, characterized by the early stages of its growth and exploration endeavors, presenting an attractive chance to acquire shares in a company poised for substantial long-term capital appreciation and commercial success. Beyond this initial early stage investment potential, Renegade also features advanced projects in its pipeline that may yield earnings in the short to medium term, providing shareholders with potential returns before full-scale project capitalization.


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