The coal group has been one of the worse performers this year, but coal stocks moved sharply higher the last two days. Arch Coal (ACI) is showing some signs of life with a falling wedge breakout on three days of good volume. The July-August highs mark the next resistance zone in the 7.75 area.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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