Champion Iron Ord Shs CIAFF

Primary Symbol: T.CIA

Steel Steel

Champion Iron Limited is an Australia-based iron ore exploration and development company. The Company, through its wholly owned subsidiary, Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, approximately 13 kilometers (km) north of Fermont, Quebec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-lles, Quebec, and has sold its iron ore concentrate to customers globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset Project, located a few km south-east of Bloom Lake, and the Cluster II portfolio of properties, located within 60 km south of Bloom Lake.

TSX:CIA - Post by User

Champion Iron Ord Shs

<< Previous

Bullboard Posts

Next >>

Post by savyinvestor333on May 20, 2024 8:00am

241 Views

Post# 36048474

From Trading Central this morning

Champion Iron Ltd forms bullish "Head and Shoulders Bottom" chart pattern
May 17, 2024

Trading Central has detected a "Head and Shoulders Bottom" chart pattern formed on Champion Iron Ltd (CIA:TSX). This bullish signal indicates that the stock price may rise from the close of $6.86 to the range of $7.20 - $7.30. The pattern formed over 31 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.

The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.