CHK.AX up 66.67% pre-market 24 Feb 2026: Cohiba Minerals (ASX) strong volume
CHK.AX stock jumped 66.67% pre-market to A$0.005 on a heavy trade day, driven by a volume surge of 35,069,450 shares. This spike pushed price above the 50-day average A$0.00313 and the 200-day average A$0.00280, signalling short-term buying interest. Traders on the ASX are watching liquidity and near-term catalysts, while fundamentals still show exploration-stage metrics and limited operating cash flow.
CHK.AX stock: price action and volume signal
The immediate move in CHK.AX stock is driven by an intraday range of A$0.004–A$0.006 and a relVolume of 11.33, with today’s volume 35,069,450 versus average 3,094,749, indicating outsized order flow. The price is now above the 50-day and 200-day averages, a short-term bullish sign for pattern traders, but the swing follows low base pricing where small capital moves produce large percent changes.
CHK.AX stock: fundamentals and valuation
Cohiba Minerals Limited (CHK.AX) is an ASX-listed explorer in the Basic Materials sector with market cap A$21,482,900.00 and 4,296,580,096 shares outstanding. The company reports no positive EPS and limited revenue; book value per share is A$0.00586 and price-to-book is 0.85, which places the stock near book value but reflects exploration-stage risk and negative free cash flow metrics.
CHK.AX stock: technical context and short-term outlook
Technically, CHK.AX stock cleared the short-term moving averages and hit a one-year high of A$0.007, making A$0.006 the near resistance and A$0.004 immediate support. Volume confirms the breakout; however, volatility measures and thin market cap mean stop placement and position sizing are essential for traders.
CHK.AX stock: Meyka AI grade and model view
Meyka AI rates CHK.AX with a score out of 100: 58.53 | Grade: C+ | Suggestion: HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. The grade reflects exploration risk, low market cap, and mixed balance-sheet metrics. DISCLAIMER: These grades are not guaranteed and we are not financial advisors.
CHK.AX stock: catalysts, risks and drivers
Primary catalysts include exploration results from the Pyramid Lake, Wee MacGregor and Olympic Domain tenements and any drilling updates; positive assays typically move small-cap explorers. Key risks are continued negative cash flow, dilution from capital raises, and low liquidity. Market sentiment in Basic Materials and commodity cycles will materially affect CHK.AX stock moves.
CHK.AX stock: sector context and trading strategy
Cohiba sits in the Basic Materials sector, which has shown a 1Y performance of +55.87% led by major miners; small explorers like CHK.AX can amplify sector swings. For high-volume mover strategy, we advise short-term scalps or event-driven positions with strict risk controls, and to monitor daily volume, price relative to A$0.004 support, and announcements on the company website.
Final Thoughts
CHK.AX stock’s pre-market surge to A$0.005 on 24 Feb 2026 is a clear high-volume mover signal, with volume 35,069,450 and relVolume 11.33 confirming strong trade interest. Fundamentals show exploration-stage metrics: negative cash flow, no EPS, and a price-to-book of 0.85, so the move is momentum-driven rather than earnings-driven. Meyka AI’s forecast model projects A$0.012 in 12 months from the current A$0.005, implying an upside of 140.00%, but forecasts are model-based projections and not guarantees. Given the C+ (58.53) Meyka grade and exploration risks, investors seeking exposure should size positions conservatively, set tight stops near A$0.004, and watch for drilling updates or capital raise notices. For traders, the combination of breakout above the 50-day and a large volume spike suggests a short-term trade opportunity; for longer-term holders, wait for confirmatory exploration results and clearer cash flow paths. See company filings and the Cohiba website for official updates and use Meyka AI-powered market analysis alongside your due diligence.
FAQs
What caused the CHK.AX stock surge pre-market?
The CHK.AX stock surge was led by a volume spike to 35,069,450 shares and trades between A$0.004–A$0.006, reflecting strong order flow and speculative buying ahead of exploration updates or news.
How does Meyka AI rate CHK.AX stock?
Meyka AI rates CHK.AX with a score of 58.53 (C+) and a suggestion of HOLD. The grade factors in benchmark and sector comparisons, financial growth, metrics, and analyst consensus.
What is the short-term outlook for CHK.AX stock?
Short term, CHK.AX stock shows momentum after clearing the 50-day and 200-day averages; traders should watch A$0.006 resistance and A$0.004 support while monitoring volume for confirmation.
What price target or forecast exists for CHK.AX stock?
Meyka AI’s forecast model projects A$0.012 in 12 months from the current A$0.005, an implied upside of 140.00%, with the caveat that model projections are not guarantees.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.