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Are The Coal Stocks Catching A Spark



April 05, 2013 – Comments (1) | RELATED TICKERS: WLTGQ , BTU , ANRZQ

This morning, the major stock indexes are coming under some selling pressure. Traders and investors seem to be selling most leading stock sectors, however the coal sector is actually bucking the trend today by trading higher on the session. One of the leading coal stocks that are showing strength today is Peabody Energy Corp (NYSE:BTU). Today, BTU is trading higher by 0.32 cents to $20.09 per share. Short term traders should watch for intra-day resistance around the $20.21, and $20.64 levels. The daily chart for BTU is still in a down trend by trading below the important 50, and 200-day moving averages. 

Some other leading coal related equities that are trading higher today include Arch Coal Inc (NYSE:ACI), Alpha Natural Resources, Inc. (NYSE:ANR), Walter Energy Inc. (NYSE:WLT), and James River Coal Company (NASDAQ:JRCC). All of these stocks remain weak on the charts at this time. They are all very oversold so traders should continue to look for bounces in this sector. Should the major stock indexes trade off of the lows the coal stocks could see further upside throughout the day. 

Nicholas Santiago

1 Comments – Post Your Own

#1) On April 05, 2013 at 5:19 PM, awallejr (28.16) wrote:

I was going to blog about them last weak.  I see it more as a play off the eventual lng exporting by this country.  Once that starts to occur in earnest in a couple years you will see nat gas prices rise quite a bit here since now you will be competing internationally.  That could work to thermal coal's advantage.

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