Well that's the issue it's always been, as it's thinly traded by definition technicals are a little more harder to judge with low volume.
We do need more volume to confirm, but I don't know if we've had a decent consolidation post leg up.. i think a few more days of 12.5c-14c churning will probably occur. I was hoping of course we hit 15.5c or so today, which would've probably triggered some temporary selling to take us back with reasonable price limits e.g. within bollinger bands levels.
I wouldn't count on general coal sentiment changing just yet as I think even if the coal story re: india, south east asia etc does eventuate, it wont be in the next 6 months. I think our next impetus (not to state the obvious) but will be NCC , Roodekop, and whatever else we can dow ith the increased Kangala capacity.
Let's not forget a potential to rerate and also the need to continue Kangala's current operational efficiencies. SO far so good but I wouldn't relax just yet until a full yr without a hitch.
Still personally i dont like keeping mortgages so I would hope UNV makes good progress with cashflow to reinvest or personally repay that debt to shore up our balance sheet.
From a technical POV do you believe the 20c mark is a strong enough resistance/support line? I assume you're drawing this conclusion from the nov 2011 to may 2012'ish price action?
Just noticed it closed down at 13.5c, which is disappointing
UNV Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
