LSE:ANR   ALTONA ENERGY PLC ORD 0.1P
603 9 2
ANR             is about to squeeze into the end of this tightening consolidation/base. I am guessing it will be a base, but I am simply looking at how the stock has fallen a long way from 60 to 16 and expectations for coal prices may be low enough now to allow for upside surprise. Note also that volume in the last decline in price under $20 was absorbed by the market and this may be a sign that the buyers are now in control. The downside risk is always 3 average ranges (using 10-days of data) and the upside potential looks to be in the 24-26 area, which is up 3.5-5.5 points, which is roughly 15%-25%. Let's keep a close eye on whether Bernanke's monetary easing into 2014 will provide a new boost to economically sensitive sectors. By: Technical Tim, 2:31PM EST, Wed, Jan 25, 2012
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timwest PRO
4 years ago
ANR (coal) is really moving nicely out of this base, but it is now extended and vulnerable. It reacted favorably to bad news about production cuts announced after the close on Friday, but turned back and closed higher today. This is positive, but this is a big gain in a short period and I suggest exiting and looking for a pullback to re-enter longs. Cheers. Tim 6:43PM Monday, Feb 6, 2012
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charttrader PRO timwest
4 years ago
Can't believe, you almost did it again. Will be monitoring this prediction and follow your future charts.
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timwest PRO charttrader
4 years ago
Thanks chart trader.
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timwest PRO charttrader
4 years ago
ANR is pulling back to the apex of the triangle... I'm watching it closely. 20.46 last, Mon Feb 13, 2012
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charttrader PRO timwest
4 years ago
Tim, what is your target and general vision about ANR now?
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mrd2015 charttrader
4 years ago
The issue with ANR (and coal in general) is how cheap natural gas is/has become. There are quite a few power providers swapping to nat gas for electrical production for the first time (or moving more of their production from coal to nat gas). That capex is more a vote of confidence for nat gas supply as opposed to a vote against coal, but if you wanted to play coal, I would do it through BHP or some other Australian miners that ship pretty much exclusively to China/SE Asia. Even there, gas will be the predominant fuel in the foreseeable future in my opinion. However, if we see a currency crisis, coal should do pretty well and will protect your investment (as most any commodity would). I know this is a trading site and not a fundamentals site, so I'll sign off now. :)
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timwest PRO mrd2015
4 years ago
I think it is essential to put the two concepts together - solid fundamentals together with technical timing. On this stock, I was fighting the trend, but for me it was a hedge against a potential lift in natural gas prices, which have certainly come down to very low prices and that in turn should spur enough demand. The BOE equivalent analysis is interesting too. If you look at the last few trades in ANR, this has been an extremely successful stock that I have traded. And yes, I did trade against the long term downtrend in some cases, like this one. Keep the comments coming. It would be nice to have fundamental votes too. I love it when the technicals say "sell" and the fundamentals say "buy". It sets up easy trading when that is the structure of the market. Cheers again on great comments mrd2015. Tim West Fri, 10:43AM EST April 13, 2012
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timwest PRO mrd2015
4 years ago
Click on the ANR chart from 10/10/11 and then "make it live" and see the other charts that followed...
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timwest PRO mrd2015
4 years ago
Then click on the ANR chart from 11/8/11 for the "sell short" signal
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