Coal Stocks Gaining Momentum
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Alpha Natural Resources, Inc.(NYSE:ANR) broke through its short term
resistance level of $7.12 on solid volume and looks ready to go higher.
The stock could touch an upside target of $8.1 in the short term.
Looking at the technical chart we start to see now some signals of
rebound as the chart shows positive momentum is back. In addition, the
20-day moving average recently crossed on top over 50 day moving average
which is a very positive sign. Short-term outlook for the stock is
bullish with share price above 20 and 50 daily moving averages. Let's
see if tomorrow the stock will confirm the breakout. Short-term
investors can buy with a stop at $6.8 and long-term investors can hold
with a stop at $6.19. ANR will move quickly, so watch the stock closely
on Wednesday.
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James River Coal Company (NASDAQ:JRCC) - The stock appears to be headed
towards the target zone of 3.6-3.85 in the short-term. Hold with a
stop-loss at $2.99. The recent increase in trading volume and rising OBV
suggests buyers are accumulating stock.
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Arch Coal Inc (NYSE:ACI) was also one of the stronger stocks today, as
it closed up 22 cents on the day. Resistance for the follow through move
is $7.05. If the stock can break through this area which is the top of
this range, we should see a strong upside move. Watch ACI closely on
Wednesday.
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Peabody Energy Corporation (NYSE:BTU) broke through resistance of 23.44
and was able to sustain this move today. The stock hit a high of $24.3,
which is resistance for Wednesday’s move. If the stock can break
through resistance, we should see a strong follow through move. Watch
the stock closely tomorrow.
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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.
Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.
Thanks for visiting AC Investor Blog.
AC
