Capstone Copper Aiming For Fresh All-Time High

Array
(
    [0] => Array
        (
            [0] => ((CSC))
        )

    [1] => Array
        (
            [0] => CSC
        )

)

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

Michael Gable of Fairmont Equities believes shares in Capstone Copper are back in an uptrend, ready to set fresh all-time record highs.

By Michael Gable 

Moves by the US treasury to buy long-dated bonds has, not surprisingly resulted in further weakness in the US dollar and strengthened the appeal of hard assets such as gold.

As we have noted over the past few weeks, resource stocks are starting their next phase of the rally and news such as this from the US just further strengthens the argument to gain exposure to hard assets.

Not only are precious metals continuing their recovery, but copper is breaking out and oil prices are on the cusp of making another large recovery.

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

After peaking in late-January, CSC then pulled back sharply until finding a low in March.

It recovered most of the way until June and then consolidated sideways in what looks like a cup-and-handle formation.

It now appears to be edging out of this consolidation and this should lead to a new rally to new highs.

Current levels are a buying opportunity and initial stops can be considered just under $15.

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.
 

Find out why FNArena subscribers like the service so much: “Your Feedback (Thank You)” – Warning this story contains unashamedly positive feedback on the service provided.

FNArena is proud about its track record and past achievements: Ten Years On

Click to view our Glossary of Financial Terms