Chemical stock CUS.TO – Canexus Corporation is a trading idea for a chart trading at an all time high. The stock has staged a break out to the upside out of a long-term bullish rectangle pattern. It looks like it is now consolidating in a tight and narrow bullish flag pattern. You know the usual drill. No overhead resistance. If volume kicks in and the stock keeps printing new highs it won’t encounter selling pressure as everybody holding the stock will be profitable. One to keep on the radar. I have a position.
I’ve recently added CUS.TO – Canexus to the Chemicals Sector Overview Chart on my public list.
That is an easy way to compare and keep track of relative strength with some of CUS.TO’s peers.
Company description from the Canexus website:
Canexus produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries. Our four plants in Canada and two at one site in Brazil are reliable, low-cost, strategically-located facilities that capitalize on competitive electricity costs and transportation infrastructure to minimize production and delivery costs. We also provide fee-for-service hydrocarbon transloading services to the oil and gas industry from our terminal at Bruderheim, Alberta.
The market does not know you exist. You can do nothing to influence it. You can only control your behavior. – Alexander Elder