Black Carbon Stocks

First up is Arch Coal (ACI) with a 5 months consolidation rectangle. Watch a close  above $4.80 for an implied target of $5.80. Note that the move could be swift as 20% of the stock float is short.




Next is Walter Energy (WLT) no pattern here but interesting levels. Note the red line that has been touched four times, twice in 2013 and twice this year.



Shining Metal Play

Penny stock Golden Star Resources (GSS) has been saved by a support line from 2008, three times in the last seventh months. It has completed a small double bottom pattern by breaking through 0.57. Next resistance level is at 0.85, which if broken completes a larger basing pattern opening the way to an implied target of $1.25.






Oi Take 3?

Oi (OIBR) has rebounded off support zone 1.42-1.44 twice this year and today’s bounce marks the third. The stock is still trading inside a rectangle since mid May. How this rectangle may resolve is unknown, but looks like there are buyers at this support level.