Peabody Energy Corporation (NYSE:BTU)
Q: Hi What should be the call on BTU?? it is currently at $34.95? Should I enter at this level or not? Thanks.
A:We issued an Uptrend for BTU about three days ago at $32 as it crossed above the 50-day moving average. In addition our proprietary IBDV indicator, which had been in oversold territory for quite a while started moving higher in conjunction with out NDBV indicator. This coincided with an uptick in the MACD which were all bullish signs. There is some overhead resistance near $38. This morning the company reported inline earnings but guidance appears to be below consensus so it may try and retest that moving average so if you are bullish on coal, you may have a better entry price as the earnings report is digested.