Technical Buy Alert: Strong Upside Potential for China Nonferrous Mining Corp Ltd

Date of Report: October 14, 2024
Broker: CGS-CIMB Research

Company Overview

China Nonferrous Mining Corp Ltd (Stock Code: 1258) operates in the mining sector, focusing on the extraction and production of non-ferrous metals. The company’s stock is currently positioned as a technical buy due to favorable indicators in its price movement and technical analysis.

Technical Analysis Summary

China Nonferrous Mining Corp Ltd presents a strong buying opportunity based on several technical factors outlined in the report. The following points highlight its current market positioning:

1. Entry Price Recommendations:

   • Primary entry prices are suggested at:
     • 6.25
     • 5.80
     • 5.00

2. Stop Loss Level:

   • Investors are advised to set a stop loss at 4.38 to minimize potential downside risk.

3. Target Prices:

   • The stock shows significant upside potential with multiple target levels:
     • Target 1: 7.80
     • Target 2: 8.60
     • Target 3: 10.20
     • Target 4: 13.00

Conclusion

China Nonferrous Mining Corp Ltd is identified as a technical buy with notable entry points and a robust upward trajectory. With several target price levels and a manageable stop loss, it is positioned as a promising investment in the non-ferrous mining sector.