BUY - Coronado Global Resources (CRN)
*** GENERAL AVICE ONLY***
Trade Date: 23/11/2023
Description: Coronado Global Resources Inc (CRN) is an international producer of Met Coal, an essential element in steel production. Coronado has a portfolio of operating mines and development projects in Queensland, Australia, and Pennsylvania, Virginia and West Virginia in the United States.
Recommendation
Buy Coronado Global Resources (CRN)
Entry price: $1.61
Target Price: $1.89 (+18%)
Stop Loss: $1.46 (-8.5% trailing stop)
Rationale:
WHC and NHC both have rallied today and look bullish. In the coal sector, usually the larger names lead the way and then other play catch up. This gives us an opportunity to buy CRN before it rallies, at a level where downside risk is very easy to manage. Looking for CRN to play catch up over the next few trading sessions and back to recent highs around the $1.90 area
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.