Peabody Energy (NYSE:BTU) was downgraded from Underperform to Sell at CLSA today. The stock closed yesterday at $24.87 on volume of 12.2 million shares, above average daily volume of 6.4 million.

There is potential upside of 36.4% for shares of Peabody Energy based on a current price of $24.87 and an average consensus analyst price target of $33.92. The stock should find initial resistance at its 200-day moving average (MA) of $24.97 and further resistance at its 50-day MA of $25.95.

In the past 52 weeks, Peabody Energy share prices have been bracketed by a low of $18.78 and a high of $38.96 and closed yesterday at $24.87, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Peabody Energy Corporation mines and markets predominantly low sulfur coal, primarily for use by electric utilities. The Company also trades coal and emission allowances. Peabody owns and operates mines in Arizona, Colorado, New Mexico and Wyoming, Illinois, Indiana, and Australia. The Company also a minority interest in a Venezuelan mine through a joint venture.

SmarTrend is tracking the current trend status for Peabody Energy and will alert subscribers who have BTU in their portfolio or watchlist when shares have changed trend direction.