week ahead & chart

Well, 23.5c broke and down she went. Lack of news will do that.

There is a gap on the daily at 20.5c. Always been a warning.

But, still bullish outlook. Daily chart very oversold, weekly chart is also oversold, ready.

Still higher low on the weekly which will drive the daily.

I'd actually like to see the 20.5c close and a reversal pattern form with 20.5c holding.

STRONG buy @ 20.5 - 21.5c and hold on watching the weekly. Ignore the daily unless your a day trader.

Might not get to 20.5c though bouncing on the Fibs.

Fundy wise...

Negatives
- Coal is down ($103.05) out of Richards Bay having a minor negative effect on CCC
- I have placed VANMAG in the negative area as nothings certain with the Chinese

Positives
- +$20 mill coming around 31 Mar 12
- Botswana (could add +$100 mill to CCC's cap)
- Penumbra on time and on budget (1st draw down this quarter a big positive to get where they have with cash flows)
- Cash costs from current operations under control & profitable
- Mangement team strengthened & recognised by institutions

Rumours
- Colombia Coking Coal move

So in summary... IMO

BULLISH UPTREND TO HOLD AND CONTINUE

BOTSWANA COULD REALISTICALLY PUSH CCC TO 40c RANGE

END OF 2012 TARGET REMAINS 55-65c