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Zacks highlights commentary from People and Picks Member «inthemoneystocks».
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BTU Heats Up
Everyone knows that the coal sector has been extremely weak as of late. There is one leading coal stock that is catching a bid higher today and it is Peabody Energy Corp ([url=http://www.zacks.com/stock/quote/btu]BTU[/url]). Today, BTU stock is trading higher by $1.01 to $31.21 a share.
The stock will have intra-day resistance around the $31.60 area. The daily chart could have some more upside in the near term, however, the stock remains well below the important 200 day moving average which puts the stock in a weak technical position.
Some other leading coal stocks that are trading higher today include Alpha Natural Resources, Inc. ([url=http://www.zacks.com/stock/quote/anr]ANR[/url]), Arch Coal Inc ([url=http://www.zacks.com/stock/quote/aci]ACI[/url]) and James River Coal Company ([url=http://www.zacks.com/stock/quote/jrcc]JRCC[/url]). Please note that the entire coal sector still remains weak on the daily charts.
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