Gents,
Did this chart up for some friends, last week.
Since early May, Copper has been consolidating/correcting. Last week, however, it broke out of its short-termdowntrend. Also, note the weekly Bollinger Bands have narrowed and it has broken above the upper BollingerBand. Hence, the next probable direction is “up”. Clearly, the correction is over and the bull market has resumed.
Above is a 45-year quarterly chart of Copper which was shown in my previous reports. It is one bullish chart.Note in the fourth quarter of 2020, Copper broke out of a 12-year “symmetrical triangle” pattern. I opined that overthe long-term, it will reach $6.50 - $7.00 or higher. I see no reason to change this view.
In my opinion CYM is the only new material copper supply next 2 to 3 years. Company is well placed to go 5x to 6x from todays price.
My personal price target is $1.20 / share.
Gents, Did this chart up for some friends, last week.Since early...
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Last
3.7¢ |
Change
-0.001(2.63%) |
Mkt cap ! $56.46M | |||
| Open | High | Low | Value | Volume |
| 3.6¢ | 3.9¢ | 3.6¢ | $51.12K | 1.375M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 635818 | 3.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.8¢ | 165316 | 2 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| CYM (ASX) Chart |