Energy embargo against Russia could provide further impetus for SunCoke Energy (SXC)! Get in now? Earnings growth 2021: +1200% yoy
Symbol: SXC RAY: US86722A1034
Review: The price surge on the energy market has allowed the security to rise by around 21 percent in the past six months. Price fell back to the 20-EMA after Thursday’s pivot high. The next bounce could present good long entry opportunities.
Chart from 03/08/2022 – basis daily, 6 months – price: 8.54 USD
My expert opinion on SXC
Opinion: SunCoke Energy, Inc is a producer of coke, which is used as a reducing agent in the steel industry. The Company acquires, owns and operates coking and coal mining operations and is also an electricity producer. A certain dynamic can also be seen fundamentally. Earnings per share increased by 1200 percent in 2021 compared to the previous year. Today’s speech by US President Biden with the announcement of an energy embargo on Russia could provide additional momentum. Since the supply on the energy markets is to be reduced, it can be assumed that prices will continue to rise for the time being.
Possible setup:
Setup: We set the trigger and stop loss above and below the last daily candle and determine the price target using the Measured Move method. New quarterly numbers are on the agenda for May 3rd so we could let the trade run long if it heads north. There are more cool setups every trading day in the Traders Live Chat at ratgeberGELD.at.
View: BULLISH
Author: Thomas Canali has no positions in SXC.
Release date: 03/08/2022
Please note the disclaimer, conflicts of interest and risk disclosures that you can find under https://ratgebergeld.at/disclaimer/ can retrieve.
Link to original post: https://ratgebergeld.at/blog/suncoke-energy-beim-unternehmen-aus-west-virginia-wird-nicht-nur-gekokst/
Analysis prepared on behalf of
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