US Stock In Play: $BTU (Peabody Energy Corporation)$BTU broke out of its 15 months long inverse head and shoulder chart pattern, surging +60.75% over the past 6 trading session. $BTU is currently closed at $8.59, a 52 weeks high price.
At the current juncture, $BTU is trading above its 200DMA for the first time in 30 months; a significant long term trend reversal behavioral price action, accompanied with incremental 3 month average trading volume exceeding beyond 100% over the past 6 months.
The next resistance to watch for $BTU is at $9.90, a price level that is 2 days away of its implied volatility.
$BTU engages in coal mining business in the United States, Japan, Taiwan, Australia, China, India, Vietnam, South Korea, and internationally. The company operates through Seaborne Thermal Mining, Seaborne Metallurgical Mining, Powder River Basin Mining, and Other U.S. Thermal Mining segments.
