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TRQ - Turquoise Hill: While Mongolia Wants More Money Now The Decrease Of Uncertainty Pushes The Stock Up
Turquoise Hill Resources Ltd.
In my recent article on Turquoise Hill (TRQ), I wrote that the most likely pattern for Turquoise Hill shares was to trade at a $0.40-0.50 range until the end of this year amidst uncertainty regarding the potential new terms of the investment agreement for Oyu Tolgoi. This prediction did not work out well, since the stock broke out of the trading range on higher trading volume and is trending higher:
From a technical point of view, that’s a major breakout that no momentum trader will miss. But what’s on the fundamental side of