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The oil industry has been hit hard of late, yet the coal industry has struggled even more. Companies like CLF, ACI and BTU have declined over 80% the past few years.
Coal ETF (KOL) has declined over 70% the past 4-years. KOL of late touched falling support line (1) as the apex of a bullish falling wedge was taking place. This week KOL is attempting an upside breakout.
For sure one weeks action does not make a trend. New trends have to start from somewhere.
If you like the idea of “buying low and selling higher” this very hard hit sector deserves keeping a close eye on!
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