- Thermal coal prices in Asia may jump as much as 50 percent if rainfall caused by La Nina is heavier than expected, further tightening the market as China cuts production, according to Citigroup Inc.
- Resources Prima achieves major milestone with the award of second “borrow-use” permit as announced on SGX on 14th July. This will greatly improves production and cash flow.
- Price has retracted from a high of S$0.060 to the current level S$0.048.
- Exponential Moving Average of 25, 50 and 100 days have all intersected and trending upwards. This is an indication of a changing of trending, moving up from here on.
- MACD indicated an upward trend too, with some minor retracements.
My suggestion to buy some of Resources Prima (5MM) and hold for profits. It is possible to contra too, that is if STI is green and the trading volume of Resources Prima (5MM) is over 10m exchanged hands.
