WHC 2.13% $5.99 whitehaven coal limited

Well whether it's been the the technical set up or the...

  1. 2,049 Posts.
    lightbulb Created with Sketch. 918
    Well whether it's been the the technical set up or the prices move in the coal..The very good news is that the share is moving well today..l refer you to the Cup and Handle technical formation and it's relatively low failure rate as set out in Bulkowski's excellent book Chart Patterns in which he has reviewed many chart structures and many cases of each chart and the various charts probability of success or failure.
    Now I wish to make it absolutely clear that I believe chart patterns are formed based on the buying and selling activities and are a process of distribution as the price falls and accumulation as the price rise s..However" I also believe that successful patterns are built on solid company fundamentals which are influencing the buying and selling .That is Fundamentals known to the public and fundamentals known to insiders....and where good and solid fundamentals are evolving positive chart patterns will evolve .."These Patterns often Predict Future Price Movement as either the accumulation or the distribution continues"...
    A cup is represented by a large half circle like formation followed by a much smaller half circle formation ...on completion of the cup and handle this breaks out into a very sharp increase in price..and this price movement can continue almost with unbroken pull backs for some time or very small pull backs ...
    "we have ONLY STARTED the "Handle Formation" .If the handle price eventually moves above $11 then WHC will have the completed cup and handle formation and will then have the huge predicted run ahead to $30 plus.
    We must not forget that the strategy of heating coal and metallurgical coal diversifies WHC 's income streams and should make it very profitable based on its new cost structure to sales....this now appears to be showing up in the charts.
    All the Best to All.
 
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$5.99
Change
0.125(2.13%)
Mkt cap ! $4.994B
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$5.94 $6.08 $5.86 $31.68M 5.276M

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31 30620 $5.98
 

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Price($) Vol. No.
$5.99 27111 21
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Last trade - 13.20pm 18/09/2024 (20 minute delay) ?
WHC (ASX) Chart
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