Natural Resource Partners
Exreme: Oversold; RSI at 29.23
Nearest Resistance: $30Nearest Support: $24 Natural Resource Partners (NRP - Get Report) is a $2.7 billion coal MLP that owns properties spread throughout the U.S. Right now, this stock is getting sold off hard, approaching a strong support level at $24 for the third time this year. With shares sitting close to that level right now, traders should be looking to play a bounce as demand comes back into shares. This stock's nearest significant resistance level at $30 puts considerable upside in trading shares to the top of their range. An 8.8% dividend yield also sweetens the pot, particularly as coal prices sit above their historic levels. I'd recommend a protective stop just below $24 on this trade. NRP, one of the top-yielding metals and mining stocks, shows up on a list of 2 Energy MLPs With Attractive Yields.
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