Coal: Leading the price action today (NYSE:ANR)

by Josh Coal is leading the price action in today’s market, with coal producers up an average of 2.7%.

The Market Vectors coal ETF ($KOL) is consolidating right below the 200 day moving average as shown in the chart below.

Alpha Natural Resources Inc. ($ANR) was last at $8.06, up 4.39% on a volume of 4,980,060 shares. Shares broke out of a symmetrical triangle (coil) in October had have formed a flag pattern here in November. Today’s price action looks like the flag pattern may be resolving with technical traders looking for a measure move to complete the pattern.

52 Week Range $4.78-$10.74 Market Cap 1,778,690,000 Average Volume 11,269,100 Dividend Yield 0.00% Institutional Ownership 81.00% Insider Ownership: 2.70% Percentage of Float Short 24.50% Beta 1.64

Alpha Natural Resources Inc. is a supplier and exporter of metallurgical coal for use in the steel-making process and a major supplier of thermal coal to electric utilities and manufacturing industries across the country.

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