CEIX trade ideas
Consol Energy: Buy Yourself Some CoalThis autumn would be long remembered in the market as crude, coal and natural gas prices jumped simultaneously to their several year highs.
European Union is planning to expand its move towards green energy to become carbon neutral by 2050. However, to change the world as we know it is hard to do at once. Meanwhile, prices of traditional sources of energy such as coal, gas and crude are making new record highs. According to the BP plc estimations, green energy contributes only 5-6% to the global energy production, and it would extend its share to 45% by 2050.
Europe is facing significant gas reserves shortages ahead of winter season as the reserve facilities are only 20% full. This could be enough for the ordinary mild winter, but weather forecasts predict winter temperatures to dive below winter climate normal. In the situation of soaring gas prices to enormous $1076 per cubic meters European energy producers are turning to coal as a fuel for energy production.In this situation traders may get some extra profit not only from crude, gas and oil trading, but also from trading of energy stocks.
Consol Energy could be one of such stocks. Stocks closed at $26.02 on Thursday with gains of 13.97% for the last month, and are rising for fifths consecutive month. Market cap of the company jumped by 196.35%. Seems yummy, isn’t it?
The trend of decline share of coal in energy production is likely to continue in mid-term perspective. So, we may expect an upside trend for Consol Energy stocks to continue too.
Moreover, its shares are far from their all-time highs at $47.35 and $48.12 that were recorded in 2018. Considering these levels we may have an 80% upside potential.A strong upward trend it Consol Energy stocks continues with the current support level at $23.40-24. Fast moving average EMA55 is duplicating this support level on daily timeframe chart at $22.50. Any correction to these levels it is worth considering to join the rally with acceleration of it if the prices moves above $28.26, a September 13 high.Considering exposure/profit ratio, such buy position looks quite attractive, so it is worth to use such opportunity. Traders may also consider other coal industry companies’ stocks such as Peabody Energy Corporation and Alliance Resource Partners for possible trading operations.
Reach 47 next JuneValue stock trade, may be not outperform the SP500 in next half year but still a good investment
$CEIX Potential Power Play SetupPotential Power Play setup for next week in $CEIX
Power Play criteria:
* Stock up at least 100% or more in 8 weeks or less
* Stock resting up with no more than 20 to 25% pullback
* Volume drying up on the right side of the chart (preferable)
<TradeVSA> CONSOL (CEIX) Pullback with NSSign of Strength in the chart:
1. High volume change the trend
2. Price break above 20/40ma
3. NS signal at pullback
4. Green Pentagon bullish signal
Hit the "LIKE" button to support us :)
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
CEIX Forming 2 Month #Rectangle #ChartPatternA daily close below $4.90 will complete the chart pattern and set the stage to a possible next leg lower.
CEIX Continue bullish reversal, and play the channel?NYSE:CEIX , opportunity for long entry to continue the bullish reversal and potential breakout past $7.61 resistance, or if dips to $5.85 and bounces off as support, then opportunity to trade the channel for up to 25%+ pop.
Found this from the screener as I was fishing out low P/E companies ;)
CONSOL Energy Inc. DivergenceMarket Cap: 205.35M
Income: 76M
Sales: 1.43B
PER: 2.59
Insider Ownership: 3.30%
Gross Margin: 98.60%
Short Interest Share: 22.17%
finviz.com
Coal RollinTRUMP 2020 euphoria to boost Appalachia
parabolic drive down #2, can probably extend to $20.000 on a lower volume day/ week. attempt to catch exact bottom is risky
