As the energy sector has been racked by the pandemic in 2020, I see strong opportunity of recovery in this sector strongly in 2021. Whitehaven Coal is my pick to rebound strongly as recently it broke the trend line and upward movement is expected.
With market valuation of about $1.6 billion, I would consider WHC as mid-cap and wild volatility is expected.
A breakout above MA200 on daily chart would trigger the upward movement to potentially hit MA400 in coming weeks.
My immediate price target is over $2 by end of December or early January
With market valuation of about $1.6 billion, I would consider WHC as mid-cap and wild volatility is expected.
A breakout above MA200 on daily chart would trigger the upward movement to potentially hit MA400 in coming weeks.
My immediate price target is over $2 by end of December or early January
Comment:
After consolidation period of about one month, WHC broke above the 61.8% Fibonacci level, a full green candle above this level price level will confirm its continuation above $2.
Comment:
After sideway for couple weeks WHC continues to steadily move up. The upcoming weeks could potentially see WHC retest the sideway ceiling area and potential breakout to above $2
Trade closed: target reached:
Although it has been a rough journey since the beginning of the year. WHC is now above $2. Uptrend continuation is expected in coming weeks.
However, looking at today's closing price, it presented an opportunity to get into as the share price level was touching MA200 and rebounded sharply. It shew a strong buying pressure.
At this stage, although confirmation is needed, I am still confident that WHC is still on track to my immediate price target of above $2.