I know the World Cup is on but we’re cheering for COOOOOOOAALLL $BTU – November 29, 2022
BTU
This is Scott with your Chart of the Day. While everyone was watching the World Cup today, at Stock Market Mentor we were watching the charts. And specifically paying attention to coal stocks.
One of the stocks that we have at StockMarketMentor.com, one of our big picks is Peabody Energy ( NYSE: BTU ). BTU ( NYSE: BTU ) made a new high today and did it on good volume. This is a stock that Dan Fitzpatrick put on our Active Trade List a while ago. And so members have been enjoying some of this, albeit “whippy” ride, in this nice trend.
Now, one thing that I really like about this stock is the fact that it is really close to the high. You can see this high from back here in April I got a feeling it will probably test that high. Now, that is only about 4 percent higher but in this market that is not a bad move. So I would look for a little resistance at around that 33.40 level.
And if you are not in a position right now, wait for a pullback to the moving averages Because the pullbacks to these key moving averages have been buyable. You have just got to be patient and wait for your entry, you don’t want to be chasing high in a bear market. So coal is definitely a sector that we are paying attention to at StockMarketMentor.com.
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