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Canadian Oil Sands Trust Headed to $50

by Sam Collins 10/09/09

Canadian Oil Sands Trust (COSWF) -- This open-ended investment trust generates income from its 36.74% interest in a joint venture with Syncrude Canada Ltd., which is the world's largest producer of crude oil from oil sands and the largest single-source producer in Canada.

COSWF Chart

Chart Legend

After falling from more than $50 in July 2008 to less than $15 in January 2009, this trust formed a base and then rallied from February to May, before settling down for its next consolidation, a cup-and-handle formation.

A breakout from this very bullish technical feature occurred this week after a period of heavy accumulation.

The initial target for the trust is $40, and $50 longer term.

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