littleriver

Arch Coal back to Base Camp

NYSE:ACI   ARCH COAL INC
141 17 4
Arch coal             is getting a little lift here today as it reports earnings . It could not be more timely as price nears an all time low. For supply and demand technicians, this will be one to watch.
hope you publish more stuff like this
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littleriver tradingformoney
Hi tradingformoney, Thanks . I usually don't look for this setup per say but I do like to bottom fish . Especially ones, I believe may be getting ready to move up. But I will certainly continue to post charts like this one as they come to my attention. Thank you again for your comments.
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tradingformoney littleriver
im really tempted to buy some stock in this thing, if the company was going to go under it would have by now. I just checked there cash flows of in the beginning of the year and also at the end of the year, it has drastically increased they are making a profit if there cash flow increased 100 million to 740 million
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littleriver tradingformoney
Hi Thanks for the info. More chartist than fundamentalist here but both are needed to see the picture. Here is a chart of the base back in May of 2000. Looks like 2.52 - 2.74 is bottom. Price may or may not reach that level. Some like to enter at the base while others may prefer just north of it, which is where price is now. I have added a little arch to the chart . Some call this engulfing . I like to enter after seeing this and price begins to move away to confirm the demand zone.
snapshot
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littleriver tradingformoney
Looks like we have a little arch . Just need a crossing of the 20ema with a bit of authority and may have something.
snapshot
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2use littleriver
Please update this chart with a comment so all who follow will know when you think it is the best time to get in. it may be a dead cat bounce, but hope for a nice bounce
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Do my best.
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I generally trade daily charts but decided to look at some lower time frames for an earlier entry . This analysis is the result.

Here is a look at the 30 minute chart. First thing we see is a nice clear divergence between share price and the indicators i have listed. The second thing is price has begun the process to of higher lows suggesting a reversal may be near.
snapshot
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Here is what I see as a potential trade using that same 30 minute chart. For an early entry , wait for a crossing of the 7&10 trix by the 5 trix. This will usually proceed a bullish move. For a more conservative entry wait for a crossing of the 20ema. In both cases, for the trade to remain valid, price must remain above the most recent low. This low (2.88) is our stop. With a target of 3.30, we have a reasonable risk/reward ratio for this trade.
snapshot
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littleriver littleriver
Added a pitchfork a pitchfork to give a possible time frame for this trade.
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