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Westmoreland Coa Looks to Continue to Trade Below its Annual-Low Share Price Today

By David Diaz

Westmoreland Coa (AMEX:WLB) traded at a new 52-week low today of $2.40. This new low was reached on below average trading volume as 143,000 shares traded hands, while the average 30-day volume is approximately 265,000 shares.

Westmoreland Coal Company is an independent coal company. The Company's coal operations include coal mining in various western states. Westmoreland Coal also has power operations which include coal-fired power plants and natural gas-fired power plants.

Westmoreland Coa has overhead space with shares priced $2.40, or 81.5% below the average consensus analyst price target of $13.00. The stock should find initial resistance at its 50-day moving average (MA) of $7.11 and further resistance at its 200-day MA of $8.78.

In the past 52 weeks, shares of Westmoreland Coa have traded between the current low of $2.40 and a high of $19.92 and are now at $2.40. Over the last five market days, the 200-day moving average (MA) has gone down 2.3% while the 50-day MA has advanced 2.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Westmoreland Coa on April 21st, 2017 by issuing a Downtrend alert when the shares were trading at $12.08. Since that call, shares of Westmoreland Coa have fallen 80.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows amex:wlb westmoreland coa

Ticker(s): WLB