WHC soared over 7% yesterday to be the ASX200’s second best performer, it’s now up 67% over the last 6-months compared to Fortescue Metals (FMG) which has fallen over 21% over the same timeframe – bar dividends which skew the picture in favour of WHC. As we’ve witnessed with iron ore resources are cyclical beasts and coal is no different, its price along with that of WHC has basically tripled over the last 12-months.
The last fortnight saw a meaningful 17% pullback in the NSW based coal producer, at MM we’ve remained bullish looking for another 8-10% upside but then what? We will be reconsidering our position into fresh 2021 highs as a decent period of consolidation between $2.50 & $3.50 feels a strong possibility.
MM is looking for another 8-10% upside for WHC
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