I found this stock in passing (funny how I find some of these interesting charts without seeking them out intentionally) and it looks quite bullish in the short term. It has a textbook bullish pattern of higher lows and is meeting short term resistance near 180. Fundamentally it seems cheap as well as the PE ratio is a mere 2.14. I think this has a decent chance to breakout and will be watching for the break above $180
I also took note of this stock as the historical price action looks wild.
I’ll be frank, I’ve never heard of this company. As for what they do, they mine for metallurgical coal (this is sometimes referred to as “Coking Coal”) which is used in steelmaking. This company was incorporated as Contura Energy in 2016 and was merged with Alpha Resources in 2018. From what I can find, the industry was having some profitability trouble due to low coal prices and high production costs in 2017-2019. In addition, there was some industry trouble with this segment due to environmental lawsuits.
All this dropped this company’s price down from $60 in February 2019 to hit a low of less than $2 in March 2020, the month of the COVID crash. But ever since then this stock has had a tremendous run up from that $2 up to $170 today, so a gain of 8400%. What a run! This is not to say this will continue on this trajectory, but it is just one of those incredible runs which is worth noting.
