This morning the chart showed a crossover to the positive region , which mean it was going up . My guess is also that yesterday was the bottom. Now today it was a solid indication for going forward in the positive direction. So this stock should follow going up, but next week I will analysis the trend in the chart to see more details on a true projection target .
Well the U.S. economy and china market is the problem , one thing to consider is in Oct. 1 the U.S. Debt. will put a dent on the entire market. So get ready for another round of a big pull down. It is easier to come down than going up. Plus investors are not to comfortable and do not trust the FED's .
NEW YORK, Aug 25 (Reuters) - Century Aluminum Co ( CENX
which is owned by Glencore PLC ( GLCNF ), said on Tuesday it will curtail its Hawesville smelter in Kentucky on Oct. 24, blaming weak metal prices on a flood of low-priced exports from China.
"Chinese overcapacity and the improper export of heavily-subsidized Chinese aluminum products have undercut an otherwise viable plant," said Michael Bless, President and Chief Executive Officer, in a statement.
Aluminum prices on the London Metal Exchange have plunged by a quarter since May and hit fresh six-year lows of $1,506 per tonne on Tuesday amid concerns about a grow glut of metal and waning demand from China, the world's biggest producer and consumer of industrial metals.
The plant has capacity to produce 255,000 tonnes per year of aluminum.
Let be realistic about the price ,it has a potential to trail up. The metal market and investors will drive it to a good level. I think the bottom for now is gone and the month of Sept. will be very slow , so I think it will grow slowly to about 7.25
Sentiment: Strong Buy
I am seeing some sell orders this moment and a small pull down for now , but it will cross over positive as this move out.
True is under a very high risk level due to law suits and including the volatile market. Plus CENX has a higher demand in value against the market . Now compare growth "Cenx " profit margin,operating margin,EBITD margin,Return on average assets, and Return on average equity are all positive in previous years. Now "truecar " they are all negative and have shown no profits.
Truecar : EPS -.63 Cenx : + 1.52
Eps = Earnings per share serve as an indicator of a company's profitability.
rhwan123 - if you can wait for a long run , it can be worth it and mean if you can wait for 2 - 5 years before it has a good top return. If you are still holding it ,don't liquid it or sell it. There is some room for it to go down and come back up for a good ride. Let say it does go to 2 dollars , you have not lost a single penny . If you can keep this for a long haul it will pay off. CENX is a good value stock that will make it in the long run. Plus you never know if it will start to pay dividend later.
My Strategy of 38 years experience , is best to buy up hill not down hill and do recommend to go long and ride it out.
Remember you have not lost anything until you sell it at a lower price.
I am not invested in this stock but I only do stock analysis.
Good luck - It is your choice.
rhwan123 - I disagree on your concept , i don't believe anyone made money , from yesterday to today even if are short trader. Any way you have your method and I have mine. I use charts because they give you more detail than just guessing the out come of it. In fact that they tell you when to add fuel , just like using a gauge on your fuel tank. Just look at the 5 day chart and tell me when you could have made money.
Remember this you buy on the uphill not on the down hill.
No , I do not think this is over yet . I think next month you will see another pull down. I do not think we have reach the bottom yet. This storm will still continue., I have not see a signal to buy yet and my software still telling me to say out.
Fyi I am out for now.