In the coal complex, insiders are buying up a decent amount of stock in Walter Energy ( WLT), a producer and exporter of metallurgical coal for the global steel industry and also produces steam coal, coal bed methane gas (natural gas), metallurgical coke and other related products. Insiders are buying into some mild strength here since shares of Walter Energy are up just over 6% so far in 2012. Walter Energy has a market cap of $4 billion and an enterprise value of $6.25 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 11.29 and a forward price-to-earnings of 8.77. Its estimated growth rate for this year is -4.2%, and for next year it's pegged at 34.2%. This is far from a cash-rich company, since the total cash position on its balance sheet is $128.43 million and its total debt is a whopping $2.33 billion. The vice president and general counsel just bought 15,000 shares, or $982,000 worth of stock, at $65.52 per share. From a technical perspective, WLT is currently below both its 50-day and 200-day moving averages, which is bearish. This stock has been trending lower ever since it hit its February high of $76.81 a share. There's some near-term support that WLT is trading within range of at $64.06, and there's more support down at $56.58 and $53.22 a share. If you're bullish on WLT, I would look for long-biased trades once this stock moves back above its 50-day moving average of $65.57 on high-volume. Look for volume on a move and close above that level that's near or above its three-month average action of 2,639,700 shares. If WLT doesn't make that move soon, then look for buyers to step in near those previous support zones at $64.06 or $56.58 a share. To see more stocks with notable insider buying, including Superior Energy Services ( SPN), TASER International ( TASR) and SXC Health Solutions ( SXCI), check out the Stocks With Big Insider Buying portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.