By Nicholas Santiago
| Stock Markets
| Jan 09, 2013 10:44PM GMT |
Wednesday afternoon, leading coal stock Peabody Energy Corp (BTU) traded lower by 0.52 cents to $26.26 a share. This stock is considered to be the best equity in the coal mining space. Short-term traders should watch for intra-day support around the $26.11 level. The daily chart for BTU stock is around the $24.00 area.
Some other leading coal stocks that are struggling to catch a bid today include Alpha Natural Resources Inc (ANR), James River Coal Company (JRCC), and Arch Coal Inc (ACI). All of these stocks are susceptible to further downside in the near-term according to the daily charts.
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