Trader’s corner
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TRADER’S CORNER.
There are two stocks which are a buy despite this bear market. On the belief that metals are due for another run up I like Platinum Australia (code PLA). It closed at 57 cents and had a recent high of 79 cents on heavy volume. The chart shows strong support at 50 cents and should we break there then I would exit at 49 cents. The price of platinum is holding above $1,000 and metal prices have shown good recent strength;it’s just a question of time before gold retests $1,000 which will drag up platinum. With so much merger and take over activity occurring in this sector it is very possible BHP or the Chinese could make a take over.
CERAMIC FUELS CELL
I highlighted this stock on Monday and firmly believe the story is excellent and see no reason why we can’t rally from the current level of 11 cents to way above Wednesday’s high of 20 cents. It is in the next growth industry(energy conservation) and further details can be found by visiting their website at www.cfcl.com.au My target is 40 cents which on the charts offers major resistance.
Happy trading,
Lou Muddaris