Arch Coal Inc. (fka ACIIQ)

[mr_bitterness]

Nice $58's yesterday. $53.04 low today was a nickel above the 200MA -- and a nice intraday rebound to $56.02 (+5% in 4 hours).

$56.02 close today is still within the downtrend (so was yesterday's high) but today was the 2nd day in a row above the MA8 and the 3rd day on the right side of the PSAR. While the price action is not ideal, the technicals suggest a bottoming off the slow and steady climb down since early June.

RSI is coming up and SS already crossed up (but %D still in oversold). MACD on the verge of crossing (+) and BBs turning towards each other. Downtrend is strong enough and Indicators are weak that is could still sink. But...

Last two times it came off the 200MA it crossed up past both the 20MA and 50MA inside of 2 weeks and continued up for weeks after. The 50MA is now $62.04 and the 20MA is now $59.83.

If it remains consistent, PPS will continue moving north of the MA200 for some time. If it breaks south again, look for first support around $48