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Churchill Mining has the technical momentum to add 50%, says Zak Mir

Churchill Mining PLC (LON:CHL), the Indonesian-focused coal miner, has technical support to add another 50% onto its current share price, according to chartist Zak Mir.

The King of Charts, in a TIP TV segment for Proactive, reckons the stock has the potential to hit 42p, a claim which he says is backed up by the technical analysis.

“The 200 day moving average, at 21 pence and rising, are presumably providing some positive momentum for the stock.”

He adds that the technical target of 42p is valid while shares remain above 25p.

 
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