WHC - Whitehaven Coal

[Boggo]

Yeh noticed you've had it a while.

Not over yet!!

Another coal stock that popped up on my weekly on a break of $0.26 was YAL, took off too quickly for me. Getting sold off today though.

 

[tech/a]

Another coal stock that popped up on my weekly on a break of $0.26 was YAL, took off too quickly for me. Getting sold off today though.

Opportunity maybe setting up.
I'm sure you know how to play these Boggo.

 

[BarneyChambers]

During this year the company's sales revenues sky-rocketed by 54% to $574.3 million and the operating cash flow rose a massive 421% to 118.3 million. According to their CEO Paul Flynn, the company has achieved significant improvements across all key financial performance indicators. The coal produced by WHC is high quality producing more energy and less emissions, which is why it's being favored by a lot of new customers especially in the Asian market.

It'll definitely be interesting to see where this is going. For anyone interested I got my stats here:

http://au.advfn.com/newsletter/barneyc/640/whitehaven-coal-limited-rising-back-to-profitable-numbers

 

[notting]

Was overvalued as it was, now with a little disappointing coal price outlook should see a bit of a correction - short

 

[peter2]

@notting I need someone like you around to prevent me from turning into a lunatic bull.

The line chart is Market Vectors Coal ETF. It shows that price has just bounced off support and is heading higher. This would support a break-out in the WHC chart.

 

[Boggo]

I'm watching this stock and to me it looks like someone is trying to push it down to the level they want to buy it at.
Some similiar behaviour on S32 yesterday and today.

 

[notting]

I'm thinking double top
Perceived weakness in China, has had a great run. Don't be greedy!

 

[peter2]

I'm not buying this BO if it happens because price is too close to 4.00. That is your backstop for any shorts. The price movements on the resource producers do seem a bit jumpy to me. China is always a good reason to remain wary.

 

[Wysiwyg]

Recent news 2 HOURS AGO

Given the strength in prices during the September quarter, UBS analysts had expected the company to realise an average of around $US115 per tonne for metallurgical coal, and earn a premium on the Newcastle thermal coal benchmark that averaged $US92 a tonne.

The lower than estimated numbers clearly disappointed the market, leaving Whitehaven shares 2.8 per cent lower at $3.77 at 1315 AEDT.

 

[Boggo]

Recent news 2 HOURS AGO

I reckon that news got priced in during the last two weeks of last month, something spooked it back then.

I'm thinking double top
Perceived weakness in China, has had a great run. Don't be greedy!

I am greedy
You were shorting this a year ago at 2.71 notting

Time will tell who is right I guess, I'm still in for the ride

 

[rb250660]

Double tops are bs.

 

[peter2]

The chart below is part of a research project and should not be considered a recommendation to buy this stock. If you want to read more about the project log in to read the P2 Weekly Portfolio thread.

Setup: Key reversal bar with high volume, off support, BO of 123 low Grade A
Buy limit: 4.83, iSL 4.30, initial target 5.65

 

[barney]

One of my picks in the yearly comp.

Chart is ordinary …. just how I like them

 

[Miner]

One of my picks in the yearly comp.

Chart is ordinary …. just how I like them

View attachment 99279

This was the latest post on WHC -
why Paul sold out ?https://www.asx.com.au/asxpdf/20200611/pdf/44jkmfydx87999.pdf
I forgot to stop my buy order @1.465 thinking this will never reach that low and got executed. Should have been checking the movement and cancelled.

 

[barney]

I forgot to stop my buy order @1.465 thinking this will never reach that low and got executed. Should have been checking the movement and cancelled.

I'm not really sure how to read "coal" stats that well, but their numbers to my lazy eye don't look anywhere near as bad relatively, compared to their share price drop.

Plus the majority of their numbers seem to on the improve relative to late last year, although still well down from a year ago.

At least you got in close the current lows @Miner There might be a little more pain in the short term SP but maybe this is the time to start accumulating?

There is no better time to buy than the last low. Picking which is the last one is the hard bit

 

[Miner]

I'm not really sure how to read "coal" stats that well, but their numbers to my lazy eye don't look anywhere near as bad relatively, compared to their share price drop.

Plus the majority of their numbers seem to on the improve relative to late last year, although still well down from a year ago.

At least you got in close the current lows @Miner There might be a little more pain in the short term SP but maybe this is the time to start accumulating?

There is no better time to buy than the last low. Picking which is the last one is the hard bit

You should start writing poems and puzzles too

 

[barney]

You should start writing poems and puzzles too

LOL ... I'm a muso ... I write songs instead ..... I have quite a few "million dollar riffs"!!

 

[Beaches]

I'm not really sure how to read "coal" stats that well, but their numbers to my lazy eye don't look anywhere near as bad relatively, compared to their share price drop.

This below article is in relation to First State Super selling down its coal mining holdings and I seem to recall some other funds stating they were intending to do the same.

One of Australia’s biggest industry superannuation funds plans to sell down its investments in thermal coal miners in a bid to protect its members from the financial impact of climate change.​

https://inqld.com.au/business/2020/07/09/super-funds-plan-to-turn-its-back-on-thermal-coal-stocks/

Coal price also seems to be lagging the rise in other commodities

 

[finicky]

Might discuss later if I watch the video clip again more closely. Interviewee seems to be saying that Whitehaven's thermal product is slightly cleaner than average metallurgical coal, can that be right?. Talks too fast for me. I've never made dollar out of an energy investment but I have lost heaps for my size as a punter. He makes some intriguing points, think he says that last time the real usd price of oil has been this low is the 1940's? - "If you're not buying oil now, you never will".

Chart of WHC defintely has prospects - the massive positive volume last month to make a small bodied candle after a long descent, for starters. For my purposes the long term chart has been following a two year descending channel and has recently come off the lower rail of that channel but there is not a clear monthly reversal candle yet in my book. August and September could easily turn out to be a tweezer pair bottom however. Price has reached the GFC level. I sort of hope WHC and WPL don't become more tempting because I always lose at energy and anyway I want to preserve cash.



WHC All Data Monthly

 

[barney]

Chart of WHC defintely has prospects - the massive positive volume last month to make a small bodied candle after a long descent, for starters.

Agree. Price is now above those high Volume down bars on 26-28th August. Accumulate the dips looks fairly safe from here.