Earnings Drive Coal Stocks

Coal stocks had a big day on Friday driven by James River Coal Company's (JRCC) bullish earnings. In fact, JRCC had a massive volume day (5x normal) and on a weekly chart broke out of previous resistance on the price by volume bars (seen below). It’s bumping right up against its 200 day MA on a daily chart, so it may find a little resistance, but these stocks have the potential to run and not look back.

Other stocks in this sector are Patriot Coal Corp (PCX), Foundation Coal Holdings (FCL), Peabody Energy (BTU), Alpha Natural Resources (ANR), and Massey Energy (MEE) to name a few.