Agoracom: Small Cap Investment - Grande Cache Coal - Coming off a Head and Shoulders

Welcome To The Grande Cache Coal Corporation HUB On AGORACOM

Coal mining in the Grande Cache area

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

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Have a great Sunday, especially those of you like me that are celebrating Orthodox Easter ... As well as those of you who are also like me and mourning another Maple Leafs Game 7 exit ... Ugggh!

Sincerely,

George et al

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CGB

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Coming off a Head and Shoulders

posted on Feb 28, 2011 07:36AM

Grand Cache Coal is coming off of a Head and Shoulders formation and bounced off the center long-term trend line last week with indicators turning up from an oversold condition. So the question here is 'will it break the $10 trend line again, or will it fail it and move lower and possibly head for the 200 SMA line'? The 200 SMA line is pretty far below and would represent a drop of 33.3% from its recent high. This seems to me to be a little much. Looks like it will cost in the upper portion of the trend lines rather than fail them. The TSX index has been making what seems to be non-stop gains over the last few months so Grande Cache Coal should follow the general trend.

An entry here as a swing trade could be good if it breaks the center $10 trend line and continues to move up. This would give us a 3 to 4 week target of the upper trend line for 23.9% at around $11.65 or so. Your stop loss should be placed around the center orange trend line, a failure of this might bring it back to the $8 range.

See chart here http://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=bed418ae1b#GCE

Cheers!

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