NYSE:AMR and NYSE:CEIX are leading the coal move.
NYSE:CEIX is the preferred one to get in as it has superior earnings.
NYSE:AMR
Reasoning
Whole Industry is moving!
Consolidation seems done
Correction is not overextended
Good Relative Strength
Great earnings
RSI tested bullish range multiple times
Multiple Bullish Days
Always...
Consol Energy - 30d expiry - We look to Buy at 63.75 (stop at 60.75)
We are trading at overbought extremes.
Previous resistance at 64 now becomes support.
The previous swing low is located at 63.32.
Bespoke support is located at 64.
We look to buy dips.
Expect trading to remain mixed and volatile.
Our profit targets will be 70.75 and 72.75
Resistance:...
Consol Energy - 30d expiry - We look to Buy at 63.75 (stop at 60.75)
We are trading at overbought extremes.
Previous resistance at 64 now becomes support.
The previous swing low is located at 63.32.
Bespoke support is located at 64.
We look to buy dips.
Expect trading to remain mixed and volatile.
Our profit targets will be 70.75 and 72.75
Resistance:...
or this may be a 2B double top extension. (see Bitcoin Nov-2021 2B top, or see Gold-ounce double top from Ukraine tensions in Spring 2022)
I think that the coal new paradigm pump is a sell the news event, energy supply tensions are easing and in the USA the domestic stress of a Rail Workers Union strike will be resolved within weeks.
Strong Supply...
Consol Energy - 30d expiry - We look to Buy at 58.22 (stop at 54.91)
Levels below 58 continue to attract buyers.
The primary trend remains bullish.
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 57.52.
We look for a temporary move lower.
Short term momentum is bearish.
Early pessimism is...
try and be patient with this one. Geopolitical headlines will move it fast in this thin volume topping structure.
await a run up near 60 and then play for downside
strong fundamentals:
finviz.com
Greenlight Capital also discussed CONSOL Energy Inc. (NYSE:CEIX) in its Q2 2021 investor letter. The fund said:
“Thermal Coal and Natural Gas
ESG investing is...
Consol Energy
Intraday - We look to Buy at 68.04 (stop at 64.15)
Broken out of the triangle formation to the upside. This is positive for sentiment and the uptrend has potential to return. The measured move target is 79.00. Dip buying offers good risk/reward.
Our profit targets will be 78.87 and 85.00
Resistance: 79.00 / 85.00 / 90.00
Support: 68.00 /...
Strong uptrend
Retraced to .618 fib
If it moves below this im out
Russia continually reducing Nat Gas Supplies should prop up Coal in the short term / Coal Consumption is increasing globally
Greenlight Capital increasing exposure as an added bonus
CEIX is leader in the coal industry. Trending. Look for entry points along the way.
Tradingview has a nice feature to paste images so I will try it out.
The image is a weekly view of the DOW JONES COAL industry. A weekly breakout from a pivot point exceeding the past 8 weeks.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose...
Tight orderly pullback. Pilot 10% of full position and scale in if it behaves properly.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
Notes:
* Very strong up trend since October 2020
* Not the best earnings track record
* Broke out of its base that was forming since 2018 with higher than average monthly volume
* Retested that broken resistance several times on the monthly chart and bounced bullishly
* Formed a double bottom in the past couple of months
Technicals:
Sector: Energy - Thermal...
As shown, majority of energy stocks are starting to correct. Looking into the future, we believe these companies will provide amazing opportunities. We expect barrels of oil to reach $300-400 a barrel by the end of the decade. When it comes to coal, china is building more and more plants to meet required energy. Recommend tracking this sector very closely for...
Figured I would try a morning entry on this since it has a history of pulling back right to here vs emas.. Seemed like a good risk to reward entry .
53.21 In
Stop 51.95
PT 1 55.25 ( 2R ) - sell 1/3 and tighten stop to half.
*CEIX made New All Time High on Friday
*4 Year Long Base
*Price above 200DMA
*Volume picking up
*Coal Sector is performing really well
*Measured target of breakout 76$
