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Tuesday, October 09, 2012 

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.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog  twitter and newsletter, so you can receive my trade ideas and stock news in real time. 

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.

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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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