BANPU : Approaching take off speed.
February 22, 2011 Leave a comment
Unless China suddenly decides they will blow it all their coal fired power plants, BANPU should get some wind behind it sales in the not too distant future. Coal prices are rising in Indonesia, and BANPU are the lowest cost producer out of the several Thai companies digging up the black stuff in the earthquake zone. Very decent support is seen at 740 down to 728, so if global events force some sellers to offload when in fact they should be holding, pick some up if the support band noted above is revisited. First support is at 750-752. but a breakout above the recent high of 770 is not going to take long, so don’t let it fly without at least some exposure.