3/6/22 TECKTeck resources Ltd ( NYSE:TECK )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 22.179B
Current Price: $41.49
Breakout price: $38.65 (hold above)
Buy Zone (Top/Bottom Range): $40.30-$37.10
Price Target: $30.80-$31.20 (Reached), $38.20-$38.90 (Reached), $46.00-$47.80 (3rd)
Estimated Duration to Target: 21-22d (3rd)
Contract of Interest: $TECK 4/14/22 43c
Trade price as of publish date: $2.18/contract
Tecklong
TECK - 8.06% Potential Profit - Corridor BreakoutCorridor breakout. New support confirmed multiple times yesterday.
Target price set at new Resistance bounce.
- 5-month uptrend with a 2-month correction
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $12.01
Suggested Stop Loss $11.72
Target price $12.85
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.