Coal Stocks Lack The Spark
Nicholas Santiago | Feb 27, 2013 12:40AM ET
This morning, many of the leading coal stocks are declining lower again. This important stock sector has now dropped lower over the past week. Traders can track the action in the coal sector by following the Market Vectors Coal ETF (KOL). Today, the KOL is trading lower by 0.06 cents to $23.07 a share. This industry croup is very oversold on the daily charts. The KOL will have some daily chart support around the $22.85 area which is a double bottom formation from the November 2012 lows. Traders can watch for intra-day support around the same level.
Most of the leading coal stocks are also declining lower today. Some leading coal stocks that are falling today include Walter Energy Inc (WLT), Peabody Energy Corporation (BTU), Alpha Natural Resources Inc (ANR), and James River Coal Company (JRCC). All of these stocks are very oversold at this time and remain in down trends on the charts.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.