AMR MAY offer a fresh chance for opening a short position !
Stock has recently lost 50 day moving average which now acts as strong resistance . Stock struggled 4 days to take this previous support back and was not successful at all .
AMR also, lost the last low ( marked by arrow ) which is a sign of trend reversal . In addition, It has completed the pull...
VCP Pivot: 175.27
Avg Cost: 175.27
Risk From Pivot: 9.22%
Position: Full defensive: 500 USDs Risk
Oil, Gas and Coal keep showing strength on this difficult market. Adding small positions one day at a time. Overall exposure now @11.5% mainly on Commodities & Healthcare
Alpha Metallurgical Resources, Inc. is a mining company. It engages in the provision of met and thermal coal. The firm operates through the following business segments: Met, CAPP-Thermal, and All Other. The Met segment consists of met coal mines, including Deep Mine 41, Road Fork 52, Black Eagle, and Lynn Branch. The CAPP-Thermal segment consists of underground...
$AMR has just broke out of the ascending triangle pattern on high volume today. The trading hasn't finished today, so the end of the day will be telling if it closes strongly or not.
As it stands, if it retests the breakout level (& holds support) that will be a great entry point, with low of the day as stop loss for my strategy.
Entry level: $140
Goals 85, 77.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to....