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Shares of Alliance Resource Partners Under Pressure, Down 1.3%

Published on Wed, 02/13/2013 - 11:29
By Peter Chu

Down 1.3% to $62.35, Alliance Resource Partners (NASDAQ:ARLP), is one of today's notable movers. The S&P is trading fractionally higher to 1,522 and the Dow is trading fractionally lower to 13,998.

Alliance Resource Partners, L.P. produces and markets coal to United States utilities and industrial users. The Company operates its facilities in Kentucky, Illinois, and Maryland.

Potential upside of 24.2% exists for Alliance Resource Partners, based on a current level of $62.35 and analysts' average consensus price target of $77.43. The stock should find initial support at its 50-day moving average (MA) of $60.51 and further support at its 200-day MA of $60.22.

Over the past year, Alliance Resource Partners has traded in a range of $50.42 to $74.06 and is now at $62.35, 24% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

By Peter Chu
pchu@fnno.com