TSX:TECK.A - Post by User
Comment by
falcon51on May 07, 2017 10:32am
387 Views
Post# 26213684
RE:The Best Short Candidate from the Coal Sector
RE:The Best Short Candidate from the Coal Sector Get It Straight!! Thermal Coal producers have no bearing on Teck, the whole Commodity sector is selling off, Hbm, Fm, and Teck getting hit hard. From $3.85 to $35.00 in a year I guess it's going to have a pullback, Met Coal spot price closed at $182.00 US on Friday, still strong for Teck due to the Dollar exch, should settle in at $150-$160 US range, this is where the buyers will probably settle quartely contracts. At $25.00 we have retraced 32%, 50% and 62% are to be seen, these are Fibro ratios that the markets use for retracments, I still see some more pain comming though due to The (when in May run away ) theory , way over bought on the long term charts and is now in a down trend, the good news is that there will be a huge buying oppurtunity in the Late fall I'm guessing, will have to wait and see how it plays out, good Luck