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Walter Energy, Inc. Common Stoc Message Board

  • blackboxfund blackboxfund Jul 11, 2013 2:27 PM Flag

    Where is the UPDATE ?

    We do expect one and it better be good as we will go to $14 tomorrow if we get any good news !
    Has anyone talked with WLT's IR today ?
    The hourly channel is the upside resistance NOW at 12.28 and a push thru will be setting us up for a BIG time upside move !

    Sentiment: Strong Buy

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    • WLT already broke out of the downtrend from May-21st and currently trading above 20 dma (10 dma has now turned up) Technically, a very Bullish set up.

      Challenges Ahead:

      1) The very strong downtrend from Feb-13 ($40-$10) is around 13.5'sh level today and dropping.
      2) 50 dma around 15'sh level

      If challenges are overcome...

      if 1) is broken on decent volume then WLT breakout might start a short squeeze and if 2) is broken then break-out will be confirmed and new uptrend to challenge $20-$21 will be in play.

      If we further extend the rally and break $21 then clear skies until $28.

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