On March 6th, we posted the following article Titled: OXF – Offering Opportunities
Oxford Resource Partners is a coal mining company active in the Northern Appalachia and the Illinois Basin region.
What attracted my attention here, is that OXF has dropped about 50% in 4 trading days (after announcing widening losses), and that the Daily RSI is now at only 7.20, a situation that is NOT sustainable. The MACD is also very oversold…
On an Hourly basis, things are starting to improve: price is making lower lows, while the RSI and MACD are not, resulting in Positive Divergence…
This combined with the severely OVERSOLD condition on the daily chart, makes me assume that a sharp rally is imminent, possibly as high as $9-$10.
Well, OXF did what I expected: a sharp rally is imminent, possibly as high as $9-$10. It is now trading at $9.54, and has reached my target as it hit $9.95 on Thursday. I would take everything from the table here, and look for other opportunities elsewhere…
For those that did the trade, this was good for a 35% gain in just 20 days.
On February 21st, we posted an article called CPIC – Offering Opportunities:
As you can see in the charts, CPIC fell from $30 to $0.70 recently.
Here I would personally take the initial investment off the table, and let the profits run…