This company is a producer and exporter of metallurgical coal for the global steel industry. It also produces steam coal, coal bed methane gas, metallurgical coke and other related products. This stock is trading up 8% at $30.84 in recent trading.
Today's Volume: 4.51 million
Average Volume: 3.45 million
Volume % Change: 136%
Shares of WLT are ripping higher today after a Sterne Agee analyst predicted the battered coal sector may see improvement next year, if prices become more competitive and demand strengthens.
From a technical perspective, WLT is soaring higher here right off some near-term support at $28.01 with heavy upside volume. This stock has been downtrending for the last month, with shares dropping from a high of $41.18 to its recent low of $28.01. During that move, shares of WLT have been consistently making lower highs and lower lows, which is bearish technical price action. That said, WLT is now starting to spike higher and break out above some near-term overhead resistance at $30.53 with volume.
Traders should now look for long-biased trades in WLT as long as it's trending above its $29.51 to $30.53 with strong upside volume flows. I would consider any upside volume day that registers near or above 3.45 million shares as bullish. If WLT can maintain that trend, then this stock will set up to re-test or possibly take out its 50-day moving average of $33.62.
(MYRG - Get Report)
This is a specialty contractor serving the electrical infrastructure market in the United States. It operates as a national contractor servicing the Transmission and Distribution sector of the United States electric utility industry. This stock is trading up 3.1% at $21.39 in recent trading.
Today's Volume: 146,000
Average Volume: 138,865
Volume % Change: 87%
From a technical perspective, MYRG is bouncing higher here right off its 50-day moving average of $20.47 with above-average volume. This spike is quickly moving MYRG within range of triggering a major breakout trade. That trade will hit once MYRG manages to take out some near-term overhead resistance at $21.73 with high volume. At last check, MYRG has hit an intraday high of $21.81 and volume is just starting to surpass its three-month average action of 138,865 shares.