Technical Buy Opportunity: China Coal Energy Co Ltd Poised for Growth

Date of Report: October 14, 2024
Broker: CGS-CIMB Research

Company Overview

China Coal Energy Co Ltd (Stock Code: 1898) operates in the coal mining and energy sector. The company is positioned as a technical buy, with promising growth potential based on current market trends and technical indicators.

Technical Analysis Summary

China Coal Energy Co Ltd is recommended as a buy based on several technical signals. The report highlights the following key aspects:

1. Entry Price Recommendations:

   • The following entry prices are recommended for investors looking to capitalize on the stock’s potential:
     • 10.08
     • 9.08
     • 8.40

2. Stop Loss Level:

   • A stop loss is advised at 7.50 to mitigate downside risk and protect against significant losses.

3. Target Prices:

   • The stock is projected to reach the following target prices:
     • Target 1: 10.50
     • Target 2: 12.80
     • Target 3: 15.20
     • Target 4: 18.00

Conclusion

China Coal Energy Co Ltd is well-positioned for growth with several target levels providing attractive upside potential. Investors are advised to enter at the recommended price points, with a solid stop loss to manage risk effectively.