Break-Out For Capstone Copper Shares

This story features CAPSTONE COPPER CORP..
For more info SHARE ANALYSIS: CSC
The company is included in ASX200, ASX300 and ALL-ORDS

Fairmont Equities' Michael Gable notes Capstone Copper shares consolidated in October, moving back towards the uptrend line and breaking out of consolidation.

By Michael Gable 

The major news of the week was the rise in Australian GDP of 0.4% for the September quarter. It was less than expected, yet inflation is currently a concern.

It once again highlights how the Australian economy is not on the right track and this is reflected in our share market compared to the US.

Luckily, we do have a sector that is on the way back up and can offer investment opportunities and that is our resources sector. 

Today, we offer a technical view on Capstone Copper Corp ((CSC)).

After peaking in October, Capstone Copper then eased back towards the uptrend line to consolidate against the prior rally.

It has now broken out of this consolidation and this means it is likely to trend higher from here.

Current levels are a buying opportunity and initial stops can be considered just under $12.

Content included in this article is not by association the view of FNArena (see our disclaimer).
 
Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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