Consolidating
Centennial produces thermal and coking coal in Australia. In
August, the price completed a reversal from the base of a broad
upward trend with the rise through $3.10. Breaking to resistance at
$3.60-$3.70, the price has paused beneath $3.50. In the near-term a
re-test is likely with the price breaking to $4.35, with a
potential of $6.00 and higher. A drop to less than $3.10 would
delay the upside.
Preparing to fly
A Queensland coal exploration company, Cockatoo has experienced
a volatile share price history. The price action from mid last year
has formed into a major reversal phase that requires a price break
above 45 cents for completion. When this occurs the stock will gain
the potential towards 60 cents-70 cents and then $1. The risk would
be a drop back beneath 32 cents.
The views expressed are those of the writer alone and investors
should seek independent advice.
Each week financial advisor Noel Whittaker answers your
questions.
