Today, shares of Arch Coal (NYSE:ACI) have crossed bullishly above their 10-day moving average of $7.33 on a volume of 5.8 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, Arch Coal share prices have been bracketed by a low of $5.16 and a high of $15.94 and are now at $7.45, 44% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.
Arch Coal has overhead space with shares priced $7.45, or 20.0% below the average consensus analyst price target of $9.32. The stock should discover initial support at its 200-day moving average (MA) of $7.19 and subsequent support at its 50-day MA of $7.12.
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.