Miv Investments Inc. has initiated an independent bullish technical trading alert for 11/10/09 on National Coal Corp. (NASDAQ:NCOC) and BioElectronics Corp. (OTC:BIEL.OB). BioElectronics Corp. gained tremendous buying pressure leading into market close, and National Coal Corp. saw its shares rise 7.62% within after hours trading on high volume.
About National Coal Corp.
National Coal Corp. is engaged in mining, processing and selling bituminous steam coal from mines located in East Tennessee and North Alabama and, until March 31, 2008, in Southeast Kentucky. The Company owns the coal mineral rights to approximately 65,000 acres of land and leases the rights to approximately 17,700 additional acres excluding the Southeast Kentucky properties, known as Straight Creek, sold on March 31, 2008. As of December 31, 2008, its mining complexes included three active and two inactive underground mines, one underground mine in the development stage, one inactive and six active surface mines, and one highwall mine. In addition, it had two preparation plants and two unit train loading facilities in Tennessee served by the Norfolk Southern (NYSE:NS) railroad. It holds seven permits that allow it to open new or re-open existing mines close to its operations. As of December 31, 2008, it controlled approximately 40.8 million estimated recoverable tons of coal reserves.
Recent News Regarding the Coal Industry
Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Australian Dollar (NYSEARCA:AUD), South African Rand (ZAR) and Columbian Peso (NYSE:COP). Strong emerging market demand is also pushing up prices although it may be limited by abundant stocks on coal producing countries.
The BofA Merrill Lynch Global Report on energy pointed out that many “oil currencies” including UAE Dirhams (NYSE:AED) and Saudi Arabian Riyal (NYSE:SAR) are pegged to the US dollar, but coal exporters tend to keep a free float therefore currencies linked to coal have outperformed both their emerging market and G-10 peers. Source found here
Recent National Coal Corp. Q3 Results
* Third quarter revenues from Tennessee operations increased 19.0% to $22.1million, up from $18.6 million during the
* Tons of coal sold increased 5.9% to 286,447 tons up from 270,515 tons during the year-ago quarter.
* The average price per ton increased 15.2% to $75.00 from $65.08 in the same year-ago quarter.
* For the nine months ended September 30, 2009, net cash flows provided by operating activities improved and are reported
at $6.6 million, versus a negative $3.6 million during the year-ago period.
National Coal Corp. (Nasdaq: NCOC), a Central and Southern Appalachian coal producer, reports that for the three months ended September 30, 2009, it achieved total revenues of $22.1 million based primarily on the sale of 286,447 tons of coal. In the same prior-year period, National Coal generated revenues of $18.6 million primarily through the sale of 270,515 tons of coal. Source found here
Considering they have 40.8 million estimated recoverable tons of coal reserves, these revenues should increase as they further their technological development, and thus achieve a more efficiency.
Technical Chart Analysis
We can see from the chart that the RSI is beginning to what it seems is a rebound, causing an ascention from the 50 on its way to the 70 where it has reached in the $1.3-1.5 range. As well, the MACD and EMA are shaping up for a short-term cross, thus creating a bullish signal. There was a recent sell off post Q3 earnings which should subdue within the next couple of days, and as well there is heavy short interest of 1.57% or 447,300 of the total float with an estimated average of 0.7 days to cover as per shortsqueeze.com’s report. The company also saw its average volume being surpassed today, going from 538,000 to 689,588, an increase of 22%.
About BioElectronics Corp.
BioElectronics Corporation (BioElectronics) designs, develops and markets a variety of drug-free, anti-inflammatory patches for a range of medical indications. The Company’s patch products, which are marketed under the name ActiPatch Therapy, deliver pulsed electromagnetic field therapy, an anti-inflammatory and pain relief therapy. The ActiPatch Therapy products combine a miniaturized microchip, power source and antenna in a soft, flexible outer envelope. When applied to the body, these devices deliver a pulsed radio frequency signal into the body on a 27 megahertz (MHz) frequency wave that induces a low frequency electromagnetic field to damaged cell tissue.
MiV Investments Inc. has profiled the company before, to view it please follow this link: http://www.stockshaven.com/bioelectronics-corp-otcbiel-a-doubled-edged-sword/
Recent Company Achievements
*All data and information used is courtesy of BioElectronics Investor Overview
The dermal patch delivery system creates a multitude of new product opportunities for chronic and acute inflammatory conditions. The market potential is estimated at $10 billion or 400 million incidents worldwide. The distinctive value proposition of ActiPatch is the delivery of drug-free therapy that reduces pain and inflammation and accelerates healing by 30% to 50% when compared with the present standard methods of patient care. The current major applications are:
- Medical Surgeries
- Chronic Wounds
- Oral Surgeries
- Sprains and Strains
- Lower Back Pain
- Chronic Repetitive Stress Injuries, Heel Pain, Carpal Tunnel, Bursitis, etc.
Below is a list of the Company’s accomplishments to date.
- United States Food and Drug Administration market clearance
- Canadian market approval for relief of pain in muscosketal complaints in both medical and over-the-counter markets
- CE Mark (European Common Market) Certification for the medical and retail over-the-counter markets
- ISO Certification
- Chosen as “One of 9 Medical Breakthroughs That May Change Your Life” by MedicalHeadway.com
- 15+ domestic independent sales agents
- 20+ International distributors with additional agreements in place or awaiting regulatory approvals
- A medical research agreement with the David Genecov, MD, Dallas Medical Center, a leading medical researcher to supervise and write manuscripts for four studies, plantar fascitis (heel pain), ankle sprains, breast augmentations, and cesarean sections.
- Canadian retail product line launched in June of 2008, actively interviewing distribution partners throughout the rest of the world.
- A solid intellectual property portfolio covering both the product design and the pulse signature.
- A 3-year pipeline of new products for treatment of sports injuries, bone fractures, chronic injuries, chronic wounds, skin conditions, arthritis and post-operative care.
- Product now available online to the consumer market via multiple websites in several countries.
- Projected annual sales in 2008 of over $2,000,000.
Technical Chart Analysis
The RSI has reached nearly a one year low at 33.25, being highly oversold and shorted, and this should overturn soon. MACD and EMA lines have been bilinear for quite sometime, and it is not going to be long before they see a cross, leading to a jump in price as seen in early to mid September. As FDA deadlines near, BIEL should also see a jump in volume, which was down against the average on 11/09/09.Disclosure: Long NCOC and BIEL
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