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Alpha Natural Resources(ANR - Get Report) is a supplier and exporter of metallurgical coal for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries across the country. This stock is trading up 5.6% to $7.16 in recent trading.
Today's Range: $6.85-$7.24
52-Week Range: $5.28-$29.29
Volume: 13.4 million
Three-Month Average Volume: 20.4 million
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From a technical perspective, ANR is trending higher here back above its 50-day at $6.80 with lighter volume. This move has also started to push ANR into breakout territory, since the stock has started to trend above some near-term overhead resistance levels at $7.03 to $7.13.
Traders should now look for long-biased trades in ANR as long as it's trending above its 50-day and those breakout levels with strong upside volume flows. I would consider any upside volume day that registers near or above 20.4 million shares as bullish. If ANR can maintain that trend, then this stock has a great chance of re-testing or possibly taking out its next major overhead resistance levels at $9.05 to $9.74.