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PEABODY ENERGY COPEABODY ENERGY COPEABODY ENERGY CO

PEABODY ENERGY CO

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BTU trade ideas

BTU - Expect Longer term upsideBTU has now burst above it's inverted H&S target (@ 9.80) and the uptrend is looking intact. Some retracement in the near term could happen, but should not breach (prior resistence-turned-) support zones @ 9.50 to 10.00. Looking at the next target of around 14.50-15.00, however expect some volatility during Earnings release in early August. Stop loss is now @ 9.40 Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
NYSE:BTULong
by Juliac
BTU$BTU - Head and Shoulders. I normally don’t trade Elliot Waves much but always nice to employ the theory when possible to add confluence and direction. I see a wave 5 ending diagonal to left, followed by a simple ABC correction and ultimately the start of a new 5 wave cycle .. which is usually the sequence order. Correction waves can get complicated, theres a variety of em. I believe we’re in Wave 3 right now.. its the most aggressive wave, the $$ maker. 40% gains since Monday !!!! Thats why its nice to know your wave cycles, you definitely want be in wave 3 ultimately. All impulse waves contain an ABC correction .. I believe well see wave 3 start of that correction @ 8.41 and continue on to final target 9.97 before breaking to 4 corrective wave. Im not a EW guru by any means but im quite sure I nailed this one, thoughts and constructive criticism always appreciated. My EW math lines up with strong pivots to the left as you can see. Wave 3 is a 168.8 and Wave 61.8 which is usually the case more often than not. Im not here telling you this is the exact play, its for education purposes .. always practice risk management. Let’s see what develops .. I’m curious as hell on this one !! ))
NYSE:BTULong
by mcmarc2000