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Coal Sector: Down 70%, Attempting Bullish Breakout

Published 02/05/2015, 09:34 AM
Updated 07/09/2023, 06:31 AM

Coal ETF (KOL) Chart, decline over 70% in 4 years

The oil industry has been hit hard of late, yet the coal industry has struggled even more. Companies like (NYSE:CLF),(NYSE:ACI) and (NYSE:BTU) have declined over 80% the past few years.

Coal ETF (ARCA:KOL) has declined over 70% the past 4-years. KOL of late touched falling support line (1) as the apex of a bullish falling wedge was taking place. This week KOL is attempting an upside breakout.

For sure one weeks action does not make a trend. New trends have to start from somewhere.

If you like the idea of "buying low and selling higher" this very hard hit sector deserves keeping a close eye on!

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