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Stock Investors Bid Up Shares of Arch Coal, Up 1.8%

Published on Thu, 06/06/2013 - 10:21
By Mallory Stone

One of today's stocks on the move is Arch Coal (NYSE:ACI), up 1.8% to $5.18. The S&P is currently trading fractionally higher to 1,611 and the Dow Jones Industrial Average is trading fractionally higher to 14,973.

Arch Coal, Inc. mines, processes, and markets low sulfur coal from surface, underground, and auger mines located in the western United States and in the central Appalachian region. The Company markets its coal primarily to electric utilities.

Over the past year, Arch Coal has traded in a range of $4.47 to $8.86 and is now at $5.18, 16% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.3%.

Potential upside of 32.6% exists for Arch Coal, based on a current level of $5.18 and analysts' average consensus price target of $6.87. The stock should find resistance at its 200-day moving average (MA) of $6.35, as well as support at its 50-day MA of $5.11.

By Mallory Stone