Chart, page-2461

Happy Sunday all. I was thinking it was about time we had a little discussion about the chart of CKA. I had to dig back a little while to find the charting thread which was buried deep.I've dusted off the cob webs and here we are. Below is the weekly chart for Cokal. There is absolutely nothing negative to report of late by looking at this chart. It is reflective of the positive fundamentals being achieved by Karan et al.
I prefer looking at weekly charts as it cuts out a bit of noise and gives a clearer picture imo. Let's dissect the chart a little...
*Close of 6.8c on Friday was a 52 week high.
*Strong consistent uptrend in channel as shown.
*OBV rising and being consistently strong for some time now. That means buyers are accumulating.
*RSI is starting to get a bit high but still plenty of room for it to run and remember stocks can remain overbought for some time.
*MACD above sig line and rising.
*The 50MA is about to cross the 200MA. The famous "Golden Cross". This is considered extremely bullish. This will also trigger some technical alerts for punters who will buy on this signal.
*Volume appears to have picked up (although not huge) since about April, but I would expect there to be a lot more volume soon with the next few company making announcements due to arrive. This will give an opportunity for some stale holders to exit and bring in fresh investors willing to ride this up.

In summary, the chart looks fantastic and the best it has looked in a long while. It is replicating the solid fundamentals being ticked off by management. Personally, I have absolute faith in Karan to deliver us a profitable company. Especially considering the huge demand for steel that will be required for the infrastructure spend that is about to take place globally, as governments try to build their way out of the economic ruins they have found themselves in because of Covid and also because of years of shite financial/fiscal management. Don't forget the significance of the souring of Australian-Chinese trade relations which has now involved the aussie coal industry (including coking coal). Some are saying this is a transient thing regarding the Chinese sourcing their coal elsewhere, but who knows??? It may be a permanent thing??? Anyhow this will have the effect of the Chinese having to pay more for the coal and it looks like they are happy to do so, so as to "punish" Australia. Along with increasing demand, this should also help push the price up in international markets. Another point, which seems to have been forgotten, is that the Indonesian "new" capital city is going to be built in Kalimantan. That will require enormous amounts of steel.

Anyhow, looking forward to tomorrows price action. Hopefully it can be sustained as we lead into the next flurry of announcements. HAGW punters.