A quick look at coals

Going through all the charts, the coals look very messy. Some look like they are trying to form a bottom, some look like they want to head lower. The only things I would consider here are day trades, preferabbly longs on stocks that have been hit the hardest (MEE, CNX, PCX, ACI). There is nothing long term here, too volatile and unpredictable.

Coals

Energy feels like it wants to rally. My favorite sector to invest in is coal. Here are a few stocks that are oversold.

ACI

35 has proven to be support, it is now red for the year. I am long.

BTU

45 has proven to be support, it is now in the red. It can easily run up to 55.

CLF

70 is support, this stock has held up very well compared to other coals. A move to 85 looks possible. I am long.

CNX

50 is support. It is red for the year. I want to get long with strength tomorrow.

MEE

35 is support and the low end of the trendline. A run to high 40s is foreseeable.

PCX

30 is support. A move to 40 is very possible.

Coal

Coal is zoom zoom zoooming. Which stocks have more to run?

ACI

Ascending triangle, breakout above 55 would give it new all time highs. Need increase in volume!

ANR

Broke out above the 40 level, I would wait for a test of the 20 DMA before getting in.

BUCY

Testing strong resistance at 105. Breakout with high volume will lead to new highs.

PCL

This one just broke into new highs. The great thing about this stock is that it has been going sideways for a few days now and is very close to its 20 DMA. Either a pullback to 55 would make an attractive buy or blast to new highs on higher volume.

JRCC

Moving sideways right at the new highs. Previous patterns suggest that there will be a pullback before we proceed to new highs. A pullback to 20 DMA or even lower would provide ideal entry.

PCX

This has run up straight for a month and is very extended. There is no support and no resistance so I have no clue what to do without a pullback to the 20 DMA.