onshow
It's nowhere near too late!!!!! this company has significant upside from here. the story is just beginning to unfold for UNV. I agree the technicals are looking good though.
On a weekly chart the 5sma cut the 15 in mid July and the 15 cut the 30 this week. preceding that by a week was the macd cut above the signal with the weekly directional movement indicator going positive for the first time since early March this yr. we've seen price action hugging the lower bollinger band for months and is now like a magnet to the upper side (weekly). in mid July the parabolic stop indicator went long for the first time since feb of this yr (again on the weekly). Some simple tech indicators that UNV is headed upwards.
there's been a depressingly long downward sloping weekly chart trendline from March 11 that was violated by this weeks price action.
All the above are clear buy signals which is not surprising given the fundamentals of UNV (i.e. rand bk funding, eskom customer, at this stage nominal export alloc'n and the upside of its' other projects).
per a recent Morgan Stanley rpt US coal exports are declining due to low US gas prices and Chinese electricity prodn has strengthened every month since April supported by industrial demand and Chinese coal inventories are at their lowest level in the YTD coupled with slowing supply growth (eg. Glencore Wandoan thermal coal project on indefinite hold). also bare in mind the large Indian coal sniffers and we have some genuine upside in UNV.
techs are great but the fundamentals tend to tell with this story as many of u on this thread well know.
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