ANR hit a new 52-week low yesterday of $19.20 and is threatening a downward break out of a top triangle. Yesterday was a volatile day, with a trading range of almost $5. It's dropped $10 in three sessions and $16 in two weeks. It would be great to see it backtest $20 and fail on the way down. Intermediate price target is $5.Alpha Natural Resources, Inc. produces, processes, and sells steam and metallurgical coal in the United States. It also involves in the purchase and resale of coal mined by others. The company�s steam coal is used as fuel for electricity generation; and metallurgical coal is used to make coke, a key component in the steel making process. As of December 31, 2007, it owned or leased total proven and probable coal reserves of approximately 617.5 million tons. As of the above date, the company had 8 regional business units that were supported by 32 active underground mines, 26 active surface mines, and 11 preparation plants located in Virginia, West Virginia, Kentucky, and Pennsylvania, as well as a road construction business in West Virginia that recovers coal. The company was founded in 2002 and is based in Abingdon, Virginia.
1 comment:
ANR Down another 4% this morning, clearly breaking through yesterday's lows. You're getting pretty good at this!
-- Your financial publishing whiz of a friend!
Post a Comment