One of the worst performing industry groups in 2012 has been the coal sector. This sector remains in a confirmed downtrend at this time by trading well below the important daily chart 50, and 200 moving averages. Please note, while this sector has been extremely weak throughout the year many leading coal stocks are trading positive today.
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 (NYSE:BTU). 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.
All of the leading coal stocks have been in a down-trend throughout 2012. This morning, many of the leading coal stocks are failing to catch a bid despite the early stock market rally. The leading coal stock that most traders follow is Peabody Energy Corp (NYSE:BTU). The stock is trading lower by 0.14 cents to $29.81 a share.
All of the leading coal stocks have been trending lower since late October 2011. Traders and investors are once again witnessing the coal sector decline lower today. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading lower by 0.99 cents to $32.87 a share. Short term traders That follow the KOL should watch for intra-day support around the $32.00 level.
(ANR, CRWE, WTI, ATRI) Stock Updates by PennyOTCStock.com
The coal sector has severely underperformed the major stock averages and the overall energy sector. This morning, the major coal stocks are trading in positive territory, however, they remain weak on the daily charts. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading higher by 0.27 cents to $35.33 a share. KOL will have intra-day resistance around the $35.60, and $36.00 levels.
This morning, all of the leading coal stocks are coming under some mild selling pressure. This sector continues to trade below the important daily chart 50 moving average, this puts the sector in a weak technical position. Traders can look at how the Market Vectors Coal ETF (NYSEARCA:KOL) has under-performed the major stock indexes and the rest of the energy sectors.