I picked this up while reading an article recently about commodities cycle turning bullish again.
Please do not ask me about the FA of this company as I do not dwell in it. From a chart perspective, this is what I see. The downside from the current price is it may falls to 1.50, all time low. It can also stay there for a long long time and never recover. That is the risk , meaning you are holding on to a dead stock. Is this your kind of risk ? Do you have the patience to sit and hold?
Or can this be the kind of stock you wanna leave behind for your children in 5,10 years or more ?
I will monitor this and would be keen to participate on a small scale. Anyone with any insight or articles please share . Thanks
p/s : I see a descending wedge pattern which may break out from current price or heads further south before breaking out. Note this is a monthly chart so do not expect to see price actions movement so fast, you may go to lower time frame if you are keen to partake in this stock.
lovely chart ! Although I do not see CCJ falling to 1,50.
End of january they will close mc arthur river and that's going to push spot price much higher, along with the other big companies who are going to cut production.
Let's see how the market is going to react...
dchua1969
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@Joshi007, thanks for your comments.
yes, let's wait patiently
End of january they will close mc arthur river and that's going to push spot price much higher, along with the other big companies who are going to cut production.
Let's see how the market is going to react...