CLICK ON CHART TO ENLARGE
The S&P 500 may be near all-time highs, this can not be said for stocks in the Coal or Shipping industry for sure!
Coal ETF (KOL) has declined 65% the past 4-years and Shipping ETF (SEA) is a third lower than it was 5 years ago. Neither of them have been good own from a buy and hold basis.
KOL is just above a 4-year falling support line and may be forming a bullish falling wedge pattern. This pattern suggests a two-thirds chance of an upside breakout. This week KOL is making an attempt to break the top of the falling wedge pattern.
Shipping stocks have been sinking the past few years as a well. Shipping ETF (SEA) over the past few months could be forming a bullish ascending triangle pattern which two-thirds of the time leads to higher prices. Should SEA break above the $19.70 level it could run to the upside a while. Measure move projections suggests that if SEA breakouts out, it could rally around 15%.
–
