OTCPK:CPPMF - Post by User
Comment by
kickhorseon Oct 01, 2021 2:16pm
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Post# 33953288
RE:RE:RE:Last chance technically
RE:RE:RE:Last chance technicallyI agree with your points absent the correlation between price of cu and cmmc stock price.
On the way up cmmc rose more and on the way down it has fallen more than the price of copper.
Cu is down less than 20% and cmmc is down by a tad more than 40%.
Cu has bounced off its 200 daily ema whereas cmmc has fallen below, a continuation of its higher beta in both directions.
For the last twenty years cu pricing has been influenced most heavily by PRC demand.
With the Evergrande implosion the PRC indicates that it will let it fail, but a controlled fail, no more PRC stop gating large losses.
I think PRC GDP will slow over the next tens years to the rate of the US, from 7% or so to 2-3%. Its demographics don't augur for growth.
Will the EV revolution pick up the slack. By all reports yes and by multiples.
The question is whether there will be intermediate commodity price weakness until EV demand is actual rather than prospective.
My take, comment away.