CENX Century Aluminum Setting Up For A Bull Run – Watch List Candidate

by Olivier on November 20, 2014

This stock is setting up nicely for a run higher. It is not ready for prime time yet, but this is a great watch list candidate. One to monitor while the ascending triangle continues to form. I drew the scenario I deem to be the most likely one into the chart. Here are the reasons why I am bullish CENX – Century Aluminum and its peer stock AA – Alcoa:

  • Firmly established up-trend
  • Successful deep pullback testing long-term moving averages. Clearly visible on the weekly chart
  • In the process of building a bullish ascending triangle

Click on CENX chart to enlarge:

Click on CENX weekly chart to enlarge:

Click on Aluminum / Aluminium Sector Overview Chart to enlarge:

Always up-to-date Aluminum Sector Overview Chart

The chart contains the following stocks for easy peer group relative strength comparison: AA – Alcoa, ACH – Aluminum Corporation of China, CENX – Century Aluminum, KALU – Kaiser Aluminum, AWCMY Alumina LTD., NOR – Noranda Aluminum

Company at a Glance from the company’s website:

Century Aluminum is a primary aluminum producer, supplying standard-grade, high-purity and value-added primary aluminum products at a rated production capacity of 1.03 million metric tonnes per year (mtpy). The company has operations in Hawesville, Ky., Sebree, KY., Ravenswood, W.Va., Mt. Holly, S.C. and Grundartangi, Iceland, with headquarters located in Chicago, Il. We are constructing a primary aluminum facility in Helguvik, Iceland with an expected rated capacity of up to 360,000 mtpy. In addition to our primary aluminum assets, we have an approximately 150,000-tonne carbon anode and cathode manufacturing facility located in Vlissingen, the Netherlands and a 40-percent stake in Baise Haohai Carbon Co., Ltd., a carbon anode and cathode manufacturing facility located in the Guangxi Zhuang Autonomous Region of south China.

Our current long-term strategic objectives are to:

Optimize our existing assets by managing costs and improving safety, productivity and efficiency.
Expand our business by constructing, investing in or acquiring additional capacity.
Pursue upstream opportunities in bauxite mining, alumina refining and the production of other key raw materials.

The two most powerful warriors are patience and time. – Leo Tolstoy

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