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Arch Coal - ACI - close: 38.44 change: +1.69 stop: 35.89

Company Description:
Arch Coal is Utah's largest coal producer and a large, state employer with a combined workforce of approximately 800 from its Dugout Canyon, Sufco and Skyline mines. Through all its operations, Arch Coal, Inc. is among the nation's largest coal producers. (source: company press release or website)

Why We Like It:
Coal stocks were a bright spot in the market on Wednesday. It's possible the group is rising again on renewed merger speculation. Shares of ACI just spent the last four weeks consolidating sideways under $38.00 and today's rally is a bullish breakout over resistance. Normally we try to avoid chasing a big move like today's 4.5% gain in ACI but shares closed near their highs for the session and we expect some follow through tomorrow. The P&F chart is already bullish with a $55.00 target. We see some resistance near $40.00 but our target is the $42.50-45.00 range.

Picked on May 09 at $38.44
Change since picked: + 0.00
Earnings Date 07/23/07 (unconfirmed)
Average Daily Volume: 3.6 million
 

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