Russian Steel Company to Rise 30%!
Jun 3rd, 2008 | By Sara Nunnally | Category: Gold MarketLast Thursday, Mechel OAO (MTL:NYSE) announced record results for 2007.
Here’s a snapshot:
- Revenues increased 52.0% to US$6.7 billion
- Operating income increased 92.59% to US$1.4 billion
- Net income increased 51.4% to US$913.1 million
Now, a massive breakout is imminent. MTL could rise as high as $70.52 in the next four weeks. That’s a 30% gain for this Russian steel company!
If you decide to play MTL, pay close attention to the $51.79 level. That’s your tripwire. If MTL drops below that level, cut and run!
Until then, that 30% climb could be just the beginning…
S.R. Nunnally
Editor, Taipan Trader
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Source: Russian Steel Company to Rise 30%!
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