BTU is a coal mining company which is a commodity that is high in demand right now. Coal runs power plants and with Europe restarting their power plants, the demand might send this sector into a supply shock. Also ironically, in order to power/charge electric vehicles, electricity must be produced which is done by power plants that use coal! This Inflation Act that was just passed will definitely be boosting EV sales given the tax credit provided by this bill. Technicals point at targets of 25, 26 and 30.
OptionsSwing Analyst
Daniel Betancourt
Note
Target 1 reached. Expect some light consolidation here before another leg to target 2. Trimmed position.
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Education first, profits second.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.