Scan of the Week

The analyst team is serving up all kinds of scans these days. Technical scans, fundamental scans, sentiment scans, a little bit of everything. These guys are really having a blast. 

But they are just trying to make the most out of this bull market. They know how this works.

So, we’ve been scanning for speculative growth, international leadership, mega trends, rotation extremes, fading analysts and short-sellers,… we’ve even been running scans on warrants.

We’re going to keep sharing more and more of them each week.

But the scan of the week has to be the Matt Warder-inspired Metals, Mining & Minerals Leaderboard.

Matt has become a dear friend of All Star Charts over the years and was just with us a few weeks ago out in New Orleans. We are truly blessed as Matt has some of the deepest knowledge of natural resource stocks of anyone in the business, with a focus on minerals. 

When he came on the Morning Show the other day, he dropped as much alpha in 30 minutes as any guest ever has. We must have discussed at least five obscure OTC commodity stocks that I never heard of. 

I got off the call and said to the guys, “we have to make a list of these stocks.”

So, we did.

Here’s the ASC Metals, Mining & Minerals Leaderboard:

The table is based on a universe of liquid metals, mining, and minerals stocks with a market cap over $100M. We also removed any pure-play precious metals names as there are a lot of them, and we have other scans designed specifically for that.

From there, we sorted it by percentage to fresh 52-week highs.

And we included ADRs and OTC stocks… The reason is simple- most of the top commodity stocks are not from the United States. Notice how the table is littered with Canadian names. That’s normal.

The bottom line is that commodities are looking better and better these days. 

Silver and copper look like they want to follow gold and complete major consolidation patterns, and crude oil looks like it wants to scoop higher.

As for me, I just want to own more of these stocks in anticipation of it.

Here are my favorites from our Metals, Mining, and Minerals universe.

Our first setup is a $900M OTC Australian Rare Earth Minerals miner. This is Lynas Rare Earths Limited $LYSDY:

LYSDY has spent the past two years basing below a confluence of resistance defined by the VWAP anchored to the all-time high and the 38.2% Fibonacci retracement of the entire 2020 - 2022 advance. 

The stock recently reclaimed the VWAP and retested it from above, putting the ball back in the bulls’ court. However, we still need to see a breakout above the 38.2% retracement to confirm the move and open the door to higher prices. 

We want to be buyers on strength above 5.65 with a target of 8.75.  

Our next setup is a $275M North American Coal Mining Management Company. Here is NACCO Industries $NC:

NC has been basing below a key polarity level defined by the 61.8% Fibonacci retracement of the 2020 - 2022 advance. With price pressing through that level now, the stage is set for a trend reversal.

As long as NC is above 35.25, we want to be buyers with an initial target of 46 and a secondary objective of 63.25.

The stock has been basing while coal has been in a bear market. If the industry finally bottoms and turns, I expect NC to lead the way.

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