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Walter Energy Shares Sinking Lower, Down 2.6%

Published on Tue, 02/05/2013 - 11:19
By Mallory Stone

Down 2.6% to $35.25, Walter Energy (NYSE:WLT), is one of today's notable movers. The S&P is currently trading 0.9% higher to 1,509 and the Dow Jones Industrial Average is trading 0.8% higher to 13,996.

Walter Energy, Inc. mines coal. The Company produces metallurgical and steam and industrial coal,, manufactures blast furnace, foundry, industrial and buckwheat coke, and produces light oil, coal tar, and ammonium sulfate. Walter Energy also degasifies coalbeds and sells the gas to a utility.

Walter Energy has overhead space with shares priced $35.25, or 16.4% below the average consensus analyst price target of $42.15. The stock should find resistance at its 200-day moving average (MA) of $40.26, as well as support at its 50-day MA of $35.19.

In the past 52 weeks, Walter Energy share prices have been bracketed by a low of $28.01 and a high of $76.95 and are now at $35.25, 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 1.4%.

By Mallory Stone