$Resolute Mining Ltd (RSG.AU)$ shares fell 31.34% on Monday, with trading volume expanding to A$20.05 million. Resolute Mining has fallen 40.65% over the past week, with a cumulative gain of 3.37% year-to-date.

Resolute Mining's technical analysis chart:

Technical Analysis:

• Support: A$0.46

• Resistance: A$0.69

• Price range A$0.46 to A$0.69: The trading range indicates a heavy concentration of selling orders, with the stock price on an downward trend. There's a high concentration of trapped positions within the trading range, which implies strong resistance to any upward movement. The stock started to decline near A$0.69 due to selling pressure and repeatedly touched the A$0.46 level, where it seems to find some support. Going forward, it's crucial to watch whether the support at A$0.46 holds and if it can lead to a potential rebound.

Market News :

Resolute Mining confirms that the Company’s CEO, Terence Holohan, and two other employees, have been detained in Mali by Government Officials. The company has followed all official processes with respect to its affairs and has provided the authorities with detailed responses to all the claims made. The Company is in regular communication with the three detained employees who remain held at the Economic and Financial Centre of Bamako (Pôle Économique et Financier de Bamako). The Company is continuing to work with the Government on a resolution and will provide further updates on the situation as appropriate.

Overall Analysis:

Fundamentally, focus on the company's performance and operational status. Technically, pay attention to whether the support levels hold and if the resistance levels can be effectively breached.

In this scenario, investors should adopt a cautious strategy, setting stop-loss points to manage risk and maintaining ongoing vigilance regarding company developments and market conditions.

Source: Resolute Mining