Coal Stocks Moving.
Updated
AMR and 
CEIX are leading the coal move. CEIX is the preferred one to get in as it has superior earnings. https://www.tradingview.com/x/LD9WMLHG/
AMR https://www.tradingview.com/x/bLG8eqBk/
Reasoning
- Whole Industry is moving!
- Consolidation seems done
- Correction is not overextended
- Good Relative Strength
- Great earnings
- RSI tested bullish range multiple times
- Multiple Bullish Days
- Always try to use 2 timeframes
My Would Be Trade Plan
- - Try to get into 3 stocks in the sector that are moving. You MUST enter the leading stock CEIX because the leading stock always moves 50% more than the second stock in sector
- - Initially risk 0.75% and then double position once stock moves 5% in your favour. (1.5% position)
- - If Position moves 20% in less than 15 bars, sell at 7ATR from initial buy ELSE Sell at 4ATR from initial buy
- - Raise stop to entry when stock is 10% in your favour
Main Sources of My Knowledge
- Mark Minervini
- Constance Brown
- William O'neil
- Speakers on Trader Lion Youtube
- Adam Khoo
My Indicators
14 Period RSI.
- 9SMA and 45EMA Moving Averages added
Composite by Constance Brown
- This is for catching failures in the RSI.
- The RSI is a bounded indicator so sometimes fails to catch divergences. This indicator helps show that
- Composite Settings
- Author : Constance Brown (Connie Brown)
- RSI Length : 14
- RSI Momentum Length : 9
- SMA Length : 3
- Fast Simple Moving Average : 13
- Slow Exponential Moving Average : 33
Note
Add on symbol HNRGNote
Closed my positionsProfited on AMR(4R), CEIX(4R), HNRG (1R)
Lost on BTU (-1R)
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