Potential Bottom In Place: Walter Energy, Inc.
Walter Energy, Inc. (NYSE:WLT) has been hammered non-stop in 2014. The constant stream of negative news hit a peak in the last few days with word of new regulations for coal plants. Many are calling these new regulations the death of coal. Often times stocks put in bottoms on major negative news and this looks to be no different. Walter Energy, Inc. is bouncing nicely today and showing signs of life. This stock is very possibly turning the corner for a move higher of up to 25-35% in the coming weeks. Walter Energy, Inc. is a buy as long as it does not take out the 52 week low on the chart at $4.25 on a daily closing basis.