Is China Natural Resources, Inc. (CHNR) a Buy? The Stock Formed Bullish Wedge Up

December 7, 2017 - By Peter Erickson

The stock of China Natural Resources, Inc. (CHNR) formed an up wedge with $2.71 target or 8.00 % above today’s $2.51 share price. The 8 months wedge indicates low risk for the $62.53 million company. If the $2.71 price target is reached, the company will be worth $5.00 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 1.62% or $0.04 during the last trading session, reaching $2.51. About 11,926 shares traded. China Natural Resources, Inc. (NASDAQ:CHNR) has risen 46.84% since December 8, 2016 and is uptrending. It has outperformed by 30.14% the S&P500.

More important recent China Natural Resources, Inc. (NASDAQ:CHNR) news were published by: Prnewswire.com which released: “China Natural Resources, Inc. Announces 2016 Results Of Operations” on June 19, 2017, also Prnewswire.com published article titled: “China Natural Resources Announces Acquisition Of Copper Smelter In Bolivia”, Prnewswire.com published: “China Natural Resources Discloses Delay In Filing Of Annual Report” on May 16, 2017. More interesting news about China Natural Resources, Inc. (NASDAQ:CHNR) was released by: Prnewswire.com and their article: “China Natural Resources Receives Nasdaq Deficiency Notice” with publication date: February 16, 2016.

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