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Patriot Coal (PCX) -

http://stockpickr.com/5-breakout-trades-avoid-eurozone-fallout.html











>>> Another (slightly more typical) example of an inverse head-and-shoulders setup is taking place in another energy stock, Patriot Coal (PCX), right now. In fact, the setup in Patriot Coal has already broken out above its neckline level -- but like the throwback we saw in shares of Prudential, this stock is offering traders a second low-risk entry.

Patriot pushed above its neckline level alongside the broad market at the end of October, only to get caught up by the ensuing weakness in stocks. Since then, shares have been consolidating above the $12 neckline, a price level that’s actually acted as pre-existing support as far back as August. The technical significance of that $12 price is important right now -- it increases the likelihood that shares will be able to make it higher.

Traders should be looking for a thrust off of that $12 level as a signal to be buyers. <<<