BTU Peabody Energy Weekly Chart Positive Divergence

Very nice positive divergence in place (white lines) over the last two months so price will finally bounce. A long entry at 32.80-32.98 is attractive, if 32.80 is lost wait for 32.20's to enter. High probability for a bounce from here right now. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.

Note Added 12/19/11 at 8 PM:  As the old trading joke goes, if Keystone liked BTU at 32.80, he must love it at 31.33 (today's close).  Positive divergence remains firmly in place so nothing has changed, price is expected to bounce.  JRCC is another coal stock with a similar chart, positively diverged. BTU and JRCC are leading the sector setting up first for a bounce; looks like KOL (coal sector ETF), ACI, CNX are following. PCX is close to a green light, similar to the JRCC chart. Coal has really been bludgeoned over the last few months so the names are basing.