I hope he doesn't mind but this is from anothr thread posted by...

I hope he doesn't mind but this is from anothr thread posted by pilsner, looks good guys:

Hello again!

Entry for STT list

NRU TA Long (Mongolian Coal Explorer)

Textbook Retrace to the 61.8% fib looks complete, good volume today to penetrate and then close on the breakline and above the 10DEMA this is now back in short, intermediate and long term uptrend looking well supported with the recent retest of the 200 Dema.

The basic Indicators I use are suggesting bullish divergence, momentum and buy timing have just aligned. Coupled with today’s volume (5mil) I suspect it would be appearing on more that a few traders scans tonight.

look for early volume off this level on tomorrows I think (or poss fri ?)open.
I would anticipate initial daily volume in excess of 8-10 mil to confirm a solid buy sig.

Trading Plan and targets….mmmmm in this market? I would be prepared at this stage to say ”will remain extremely flexible”.

having said that, I have a ST target for this trade of 6.7c or (109%) based on a measured move of the curent pennant but(longer term targets on the chart below (top 2 white Hoz lies for thoes inclined)

Expecting slight resistance around 3.87c, 4.4c and possibly heavier at 5.6c on the way up.
The latter at 5.6c may potentially prove a perfect PT or derisk level.

FA wise, have a read of the thread, they announced on the 11th 2 new coal seams found, more test holes planned prior to wash test results due next mth suggest mgmnt. have no doubt that this is a new high grade black coal strike.

Something I haven’t done before but have been thinking about is to update a tip once i've entered to keep others informed if they have a vested interest. Like the first signs of any unexpected TA event or potential sell signals. Maybe a separate sub thread on the STT home page.

2 year weekly Chart shows potential of a nice round double bottom and bull pennant.