StockBuz Chart Gallery

Admin

Support Tested

Posted by StockBuz on July 14, 2011 at 9:25pm
Coal is one area that has lagged the overall market; JRCC having only retraced 38.2% of the 2008 high so in theory, there's plenty of upside to come. It is oversold daily and weekly as as this daily chart shows, it broke out of a falling wedge, stopped at the 200d, came back down and tested breakout support - which held and found buyers there based on the long tail in todays candle. I would propose a long here with a stop below todays low [not just a penny or two but maybe .25-.30 cents] Expect chop near the 200d but with the weekly being oversold, buyers should continue to flow in. Eventual target marked. Take a partial, roll your stop up to below the 200d and let the rest ride. There's a lot of sky overhead.

Read More, Comment and Share......
Previous
Next
Tags: long-ideas, coal, jrcc
E-mail me when people leave their comments –
Follow

You need to be a member of StockBuz to add comments!

Join StockBuz

Pardon our dust as this page is undergoing a facelift.  Please report any difficulties you may experience during this phase.  Contact us

***********

You're welcome to add new charts and photos using the "Add" button found at the top/right.

  • Be certain to give each a TITLE
  • Select a category that best fits
  • Select more than one category by holding down the "CTRL" key when selecting the second or third category.
  • Add "tags" which best describe your chart so it can be located by search engines. (ex. Apple stock, AAPL, long trade)
  • Since we don't charge for our trade ideas, please pay with a