News: NHC UPDATE 1-Australia's New Hope clears environmental hurdle at coal project, page-23

Stockradar had a $3.70 trailing stop loss in place for NHC. Once price falls below that, they get out the following Monday. This is a weekly trading system with buys and sells only once a week on Monday morning market open.

They have no downside target for NHC. They won't buy again until price rises above $3.70.

Much technical damage has been inflicted to the share. This was a classic volatility wipe where weeks of gains evaporated.

I don't pay much attention to Morningstar fundamental analysis, but is noteworthy how they quickly revise price targets after large sudden falls.

Morningstar Stock Screener Analysis:

An unfavourable environment weighs on NEW HOPE CORP.LTD., which sees a downgrade to Slightly Negative. The independent financial analyst the Screener just re-qualified the general evaluation of NEW HOPE CORP.LTD. (AU), active in the Coal industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. The Screener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date March 22, 2019, the closing price was AUD $3.25 and its target price was estimated at AUD $3.09.