Teck Cominco Ltd. - TCK

[Naamplao]

This is going to be a good buy when all this financial mess is sorted out. I am seriously watching this stock on the Toronto Stock Exchange (TCK/B.TO) waiting for the bottom.

Here is a summary of the company

Teck is a diversified mining company, headquartered in Vancouver, Canada. Shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Teck is a world leader in the production of zinc and metallurgical coal and is also a significant producer of copper, gold and specialty metals. Further information can be found at Teck: Mining Company - Home.

Not only the above but Teck Cominco is also involved in the Oil Sands of northern Alberta with a 20% piece (along with PetroCanada and UTS Energy) of the Fort Hills oil sands project.

Now it is just completing its acquisition of Fording Canadian Coal Trust (nyse: FDG)

Fording and Teck Cominco Announce Receipt of Final Order and Satisfaction of Closing Conditions Regarding Sale of Fording Assets to Teck: Financial News - Yahoo! Finance

About Fording

Fording Canadian Coal Trust is an open-ended mutual fund trust and one of the largest royalty trusts in Canada. Fording makes quarterly distributions to unitholders using royalties received from its 60% interest in the metallurgical coal operations of the Elk Valley Coal Partnership. Elk Valley Coal Partnership is the world's second largest exporter of seaborne metallurgical coal, supplying high-quality coal products to the international steel industry. The Trust's shares are traded on the Toronto Stock Exchange under the symbol FDG.UN and on the New York Stock Exchange under the symbol FDG.

Fording Coal literally owns a mountain of metallurgical coal. This is the kind of coal used in steel making operations.

Teck Cominco is a huge very diversified Canadian resource company. Here is its Sharpchart

TCK - SharpCharts from StockCharts.com

It is not a buy right now. I believe there is some concern about financing of this Fording Coal takeover and given the financial uncertainty I suppose this is understandable. Also with the downturn in the resource industries in general, the stock has been taking a beating since June/08, as has almost every other resource stock....

So the stock is bearish right now but it is one to watch since this is one that will rebound and pay handsomely in the long term.

There is nothing positive about this stock right now...the share price is hugging the lower Bollinger band, the 50dayMA is negatively crossing the 200dayMA, The TRIX is negative, the RSI is around 35% and there is a bit of a selloff in the Accum/Dist.

The share price is falling fast and I'm loving it...I suppose because I don't own it yet....but I will eventually!!! {rubbing my hands}

Here is the P&F chart



It is difficult to predict a bottom here since the share price has never been so low. The chart itself is no help since it predicted a bottom of $30.00 and we are 10% lower than that right now. If you take the first red line on the left and extend it you will find it crossing the current column at about $28.00 and we broke this support level today.

Here is the 5 day line chart from Yahoo



There is some sign of sideways movement soon but no real sign of a turnaround yet.

This is one of the biggest diversified Canadian resource companies in this country and it is headed for bargain basement prices. I will be watching this stock very closely. There is a lot of money to be made on this company when it turns around.

[Naamplao]

This stock's chart mirrors the post I did for Visa.

Here is the SharpChart TCK - SharpCharts from StockCharts.com

The stock is hugging the lower BB...the only difference is that the RSI is definitely "oversold" now and the Accum/dist is showing a selloff.

Here is the P&F chart



Wow...it lost 50% in a few weeks the support is not showing in this chart. I looked at the Sharpchart and I think I see a support level at $15.00. So we have something to look for...not a garuantee though of any decent support

The 5 day line chart is as follows


Looks like we shall test my $15.00 "support" soon...this stock is looking more and more attractive to me...long term

[Naamplao]

Commet: I am commenting on TCK the USA stock since 99% here are Americans....as I am writing it is the Thanksgiving holiday for Americans...the Canadian version of the stock TCK/B.TO is trading and doing quite well gaining $0.73 TODAY, Nov27. You are going to see a HUGE rise in TCK tomorrow...perhaps you can catch this at the bottom tomorrow but I doubt it.

It has been far too long since I last posted on this stock. This company will be a huge buy for those who play long. A major Canadian mining company diversified into Copper, metallurgical Coal, Zinc, Oil (Tar Sands), Gold and other metals, who was worth $50+/share and dropped to the $4.00 becuase of this perfect storm of falling metal prices.

I have started my accumulation of this stock. I will bet that this stock will reach $20.00 in 2 years and that IMHO is a conservative view.

If you bought 100 shares at $4.00 = $400.00 investment. Doing now except watching the market will net you $20.00 x 100 = $2000.00 You have increased your investment 5 fold. I intend to have a lot more than 100 shares at these prices.

So what has happened to TCK since I last looked....here is the pincher chart

TCK - SharpCharts from StockCharts.com

As you can see, we are exactly at the beginning of a pincher...it started 2 days ago and we have gained about 24% on TCK (so far the Canadian stock TCK/B.TO has risen 42% over your Thanksgiving...so garuanteed the gain on TCK will be higher tomorrow)

Let's do the rest of this TA with the normal sharpchart

TCK - SharpCharts from StockCharts.com

A 24% gain and it is just a blip on the curve. The stock did drop suddenly last week since it announced that it is suspending dividend. It had a healthy dividend before but given these bad times it had to cut costs to survive. I'm confident that dividends will eventually be reinstated as it pulls out of this ...It bothered a lot of paople...me? Nopes...it just gave me a lower buy-in.

The bollinger bands are extremely wide....this bounce has not affected them much...it it keeps rising though you will see a dramatic change.

In spite of the recent rise the chart is not bullish ... the RSI is climbing out of the toilet, The MACD is starting to turn around and you can see the sell-off of TCK in the past month in the Accum/Dist

here is the P&F chart



It is a difficult chart to interpret because of the rapid fall. Support is at $3.50 and resistance seems to be at $9.00!!!??? Hard to believe we could rise to $9.00 unopposed.

Here is the 5 day BigCharts,com candlestick chart



Hahaha...I am cheating since this share price must rise to be in sync with the Canadian performance today...$4.25 does look like a nice support.

This stock is perfoming well....but remember it is in a pincher mode so I would expect a pullback by the end of the week. I expect sideways motion for a while too until the Bollinger bands tighten in the Sharpcharts

It is nice to see a stock take off though