Almonty Industries: Tungsten Momentum Collides with Chart Resistance at 26.72 AUD
24.05.2026 - 18:33:25 | boerse-global.de
Almonty Industries faces a pivotal test this week as the stock's blistering year-to-date run — a more than doubling since January and a sixfold-plus gain from its 52-week low of 4.08 AUD — approaches a clearly defined technical ceiling. Shares on the ASX finished Friday at 26.51 AUD after a 7.63% surge, the fourth consecutive session of gains, leaving them just 21 cents shy of resistance at 26.72 AUD. The outcome of that battle will likely determine whether the rally has further legs or runs out of steam.
The tension between bullish fundamentals and overstretched technicals is sharp. The stock is trading almost exactly on its 50-day moving average of 26.59 AUD, while the 200-day average sits far below at 16.24 AUD, underscoring the velocity of the advance. Yet the relative strength index has climbed to 79.6, firmly in overbought territory, and the MACD is flashing a sell signal even as shorter-term moving averages point higher. The annualized 30-day volatility of over 90% warns that any reversal could be violent. If the 26.72 AUD barrier holds, the next support levels to watch are 22.89 AUD and 21.15 AUD.
The fundamental story underpinning the rally is centered on the Sangdong tungsten mine in South Korea, which transitioned to commercial operations in March 2026. First-quarter results underscored the transformation: revenue surged 221% to $25.4 million, operating cash flow came in at $9.7 million, and adjusted EBITDA swung from a loss of $2.4 million to a gain of $6.1 million. Almonty ended the quarter with roughly $260 million in liquidity. Still, a net loss of approximately C$5.3 million remains an area of concern, and the critical question now is how quickly Sangdong can translate its high-grade output into repeatable, positive cash generation. Tungsten APT prices remain elevated at around $3,140 per MTU, and with China controlling roughly 80% of global supply, the mine’s strategic appeal to Western defense and industrial supply chains continues to support the investment narrative.
Should investors sell immediately? Or is it worth buying Almonty IndustriesDRC?
External catalysts could tip the scales in the coming days. The U.S. trading week is shortened by the Memorial Day holiday, but from Wednesday onwards a dense slate of macro data arrives: the second estimate of first-quarter GDP, durable goods orders, and April figures for personal income, spending and the core PCE price index. For a high-volatility critical minerals stock like Almonty, any surprise in inflation or growth data could shift risk appetite quickly. A stronger-than-expected inflation print would further dampen rate-cut expectations and pressure speculative mining names, while weaker data could reinforce the risk-on tone that has fueled the stock's ascent. The interplay between chart resistance, Sangdong's operational ramp, and the macro backdrop will determine whether Friday's breakout attempt was the start of a lasting recovery or merely a countermove within a fragile uptrend.
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