BTU is a coal mining company which is a commodity that is high in demand right now. Coal runs power plants and with Europe restarting their power plants, the demand might send this sector into a supply shock. Also ironically, in order to power/charge electric vehicles, electricity must be produced which is done by power plants that use coal! This Inflation Act that was just passed will definitely be boosting EV sales given the tax credit provided by this bill.
Technicals point at targets of 25, 26 and 30.
OptionsSwing Analyst Daniel Betancourt
Comment
⋅
Target 1 reached. Expect some light consolidation here before another leg to target 2. Trimmed position.
Next target on my chart is 29.53, which will be a test of the .5 Fib level. If it blows through, we could go and test all time highs, if not then we likely return to 19 level.
jicruz
⋅
8/17 BTU ... just jump from 23 to 24 at the close today